All Just For Feet Doors To Be Closed Along With 77 Footactions; See Entire List
MARCH 08, 2004 -- Footstar plans to take action to strengthen and refocus its athletic footwear business. The company intends to close in the near term approximately 165 underperforming stores, including all of its 88 Just For Feet stores and 77 of its 429 Footaction stores. In a motion filed with the Court today, the company has requested authorization to hold Going out of business sales at these locations and to establish an auction process for the retention of a liquidation agent to assist with these sales.
Dale Hilpert, CEO, commented, "We are conducting a thorough review of our operations as we work to develop a long-term business strategy that will form the basis of a Plan of Reorganization. While this analysis is underway, we determined that it would be in the best interests of the Company and its creditors to take immediate action to reduce losses in the company's Athletic segment. The Just For Feet business has been unprofitable since its acquisition in 2000, primarily as a result of its high lease costs. By exiting this business and closing 77 unprofitable Footaction stores, we will have a financially stronger core Athletic division, consistent with our objective of refocusing our resources on a more profitable business base."
R. Shawn Neville, president/CEO of Footstar's Athletic segment, said, "Following the closings, Footaction will operate 352 stores with continued strength and focus in major metropolitan markets across the country. With this more focused store base, we will be better able to build upon our leadership position with our core athletic consumers. We look forward to capitalizing on Footaction's unique competitive strengths to reposition this business for financial stability and improved profitability."
Hilpert concluded, "We deeply regret the impact the closings will have on our associates and will do what we can to help ease the transition for those who are affected. However, we strongly believe this action will be a critical component in Footstar's successful reorganization."
Liquidation sales at the closing stores are anticipated to begin shortly after Court approval is received. The closures are expected to be completed by summer. Affected associates will be paid as normal until their locations close. The following is the lsit of stores to be closed:
Footaction Store Closings
Montgomery Montgomery AL Montgomery Mall Montgomery AL Regency Square Mall Florence AL Great Mall/Bay Area Milpitas CA Montclair Plaza Montclair CA North County Fair Escondido CA Oakridge Mall San Jose CA Studio Village S/C Culver City CA Topanga Plaza Canoga Park CA Greeley Mall Greeley CO Cordova Mall Pensacola FL Eagle Ridge Mall Lake Wales FL Edison Mall Ft. Myers FL Governor S Square Mall Tallahassee FL Gulf View Square Port Richey FL Georgia Square Mall Athens GA Chicago Ridge Mall Chicago Ridge IL Fox Valley Center Aurora IL Grand Boulevard Chicago IL Hickory Point Mall Forsyth IL Spring Hill Mall West Dundee IL West Ridge Mall Topeka KS Oxmore Center Louisville KY Lafayette Lafayette LA Holyoke Ml/Ingleside Holyoke MA Natick Mall Natick MA Searstown Mall Leominster MA Soloman Pond Mall Marlborough MA Swansea Mall Swansea MA Greenmont Avenue Baltimore MD Montgomery Mall Bethesda MD Shops At Jefferson Village Detroit MI Woodland Mall Grand Rapids MI Ridgedale Shopping Center Minnetonka MN Biltmore Square Mall Asheville NC Pheasant Lane Mall Nashua NH Livingston Mall Livingston NJ Rockaway Town Square Rockaway NJ Coronado Center Albuquerque NM Cottonwood Mall Albuquerque NM Galleria At Sunset Henderson NV Belden Village Mall Canton OH Eastgate Mall Cincinatti OH Fort Steuben Mall Steubenville OH Great Northern Shopping Center No. Olmsted OH Lee Harvard Shopping Center Cleveland OH Midway Mall Elyria OH Southwyck Shopping Center Toledo OH Beaver Valley Mall Monaca PA Cheltenham Square Philadelphia PA Colonial Park Mall Harrisburg PA Coventry Mall Pottstown PA Park City Lancaster PA Philadelphia Philadelphia PA Ross Park Mall Pittsburgh PA Susquehanna Valley Selinsgrove PA Plaza Carolina Carolina PR Plaza Las Americas San Juan PR Ponce De Leon Ave Santurce PR Bradley Square Cleveland TN Governor S Square Mall Clarksville TN Raleigh Springs Memphis TN Bassett Center El Paso TX Broadway Mall Tyler TX Collin Creek Plano TX Golden Triangle Mall Denton TX Mall Del Norte Laredo TX Sikes Center Wichita Falls TX Sunland Park Mall El Paso TX Sunset Mall San Angelo TX The Galleria Dallas TX Valle Vista Mall Harligen TX Vista Ridge Lewisville TX Cloverleaf Mall Richmond VA Alderwood Mall Lynnwood WA Capital Mall Olympia WA Supermall Of G.N.W. Auburn WA
Just For Feet Store Closings
Galleria Birmingham AL Huntsville Huntsville AL Montgomery Montgomery AL River Ridge Birmingham AL Riverchase Birmingham AL Little Rock Little Rock AR Market Plaza North Little Rock AR Arizona Mills Tempe AZ Desert Ridge Marketplace Phoenix AZ Desert Sky Phoenix AZ Glendale-Arrowhead Glendale AZ Metro Center Phoenix AZ Tatum Phoenix AZ Tucson Tucson AZ Tucson 2 Tucson AZ Mission Viejo San Diego CA San Ysidro San Ysidro CA Vista Vista CA Colorado Springs Colorado Springs CO Englewood-Centennial Englewood CO Golden-Lakewood Golden CO Littleton-Park Meadows Littleton CO Stapleton-Quebec Square Denver CO University Denver CO Aventura Aventura FL Colonade Orlando FL Cypress Creek Fort Lauderdale FL Dadeland Miami FL Daytona Beach Daytona Beach FL Florida Mall Orlando FL Fort Myers Fort Myers FL Hialeah Hialeah FL Hollywood Hollywood FL Orlando (Altamonte) Altamonte Springs FL Pembroke Pines Pembroke Pines FL Sawgrass Sunrise FL Seminole Sanford FL West Palm Beach West Palm Beach FL Alpharetta Alpharetta GA Augusta Augusta GA East-West Shopping Center Austell GA Fayette Pavilion Fayetteville GA Gwinnett Duluth GA Savannah Savannah GA Southlake Morrow GA Stonecrest Lithonia GA Towncenter Kennesaw GA Overland Park Overland Park KS Cortana Baton Rouge LA Covington Covington LA Lafayette Lafayette LA New Orleans Metarie LA Shreveport Shreveport LA Bannister Kansas City MO Independence Independence MO Springfield Springfield MO Jackson Jackson MS Cotton Albuquerque NM Pavilion Albuquerque NM Galleria Pavillion Las Vegas NV Las Vegas 2 Las Vegas NV Norman Norman OK Quail Oklahoma City OK Tulsa 1 Tulsa OK Tulsa 2 Tulsa OK Allentown (Whitehall) Whitehall PA Chattanooga Chattanooga TN Knoxville Knoxville TN Knoxville Knoxville TN Wolfcreek Memphis TN Almeda Houston TX Arlington Arlington TX Austin Austin TX El Paso El Paso TX Hurst Hurst TX Laredo Laredo TX Lewisville Lewisville TX Live Oak Live Oak TX McAllen McAllen TX Mesquite Mesquite TX North Park Dallas TX Plano Park Central Plano TX San Antonio 1 San Antonio TX San Antonio 2 San Antonio TX Sharpstown Houston TX Sunrise Commons Brownsville TX Westheimer Houston TX Willowbrook Houston TX