On June 14, 2018, the U.S. Bankruptcy Court for the Central District of California (Judge Vincent Zurzolo) approved the plan of reorganization of Shiekh Shoes, LLC, in the company’s Chapter 11 bankruptcy reorganization case (case no. 2:17-bk-24626-VZ). Shiekh Shoes successfully exits chapter 11, having beneficially modified dozens of leases, eliminated millions of dollars of debt, obtained new financing and closed unprofitable locations. Shiekh’s plan provides for the restructuring of its debt, store leases and operations.
Shiekh Shoes is a retailer of shoes, apparel and accessories, with Nike product accounting for more than 50% of its sales. The company commenced its Chapter 11 case on November 29, 2017. At the time of the commencement of its case, Shiekh operated 125 retail stores in 10 states.
Shiekh Shoes is represented by SulmeyerKupetz. The primary attorneys working on the case are David Kupetz, Asa Hami, Claire Wu, Jeffrey Pomerance and Steven Werth. The company’s financial advisor is KGI Advisors, with Gerry Seli and Steve Green of KGI working on the case.
