Rockport Is The Latest Retailer To File For Bankruptcy Protection

Currently, the company owns 33 stores in Canada. According to the official information, the company’s debt is $287 million.

 

According to RetailDive, the shoe retailer Rockport filed for bankruptcy protection on Monday.

The brand, known for merging the comfort of athletic shoes with the look of dress shoes, announced that it would be selling off its assets to Charlesbank Capital Partners.

Currently, the company owns 33 stores in Canada. According to the official information, Rockport’s debt is $287 million.

“The transaction with Charlesbank will ensure the continuation of Rockport’s deep heritage and great brands, and provides a clear path forward for the Company by focusing on its global wholesale, independent, and e-commerce operations,” Rockport said in a statement.

Stay tuned for more information about the bankruptcy.

Are you surprised by the Rockport bankruptcy? Let us know in the comment section.

Featured image: Instagram/ @rockport

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