Retail Industry
Industry: Email Alert RSS FeedCourt OK's Morse Chap. 11 agenda. (U.S. bankruptcy court; Morse Shoe Inc.)
Footwear News, December, 1991
Court OK's Morse Chap. 11 agenda
BOSTON - The U.S. Bankruptcy Court in Boston has approved a reorganization plan filed by Morse Shoe, Inc., Canton, filed by Morse Shoe, Inc., Canton, Mass., parent of Fayva stores, Lowell Shoe Co. and leased shoe departments, that could formally bring the company out of Chapter 11 protection sometime around Jan. 15, 1992.
Morse Shoe treasurer Thomas Galligan said the courts approved the company's plan for emerging from bankruptcy on Dec. 20 and that the company must now submit documentation of bank financing to the court for formal approval. "Essentially the company is about 95 percent the same," said Galligan of the changes that took place during the year.
However, looking ahead, he anticipates another tough...
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