Bankrupt EJ

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which filed for Chapter 11 bankruptcyh Friday, will close stores in Texas and Arizonas ifit can’t renegotiat e cheaper rents with its The University City-based company operates 15 discount shoe storesd across the country undet the EJ’s Designer Shoe Outlet, E&J’s Designer Shoe Outlet and Shoe Centz names. The company previously was known as FamousBrandd Shoes. “The restructuring will enable EJ Shoes which operatesin Missouri, Texas and Arizona to continue to conduct businesx in its strongest retail locations whiled it renegotiates or drops leases in severapl others,” the company said in a statementy e-mailed to the Business Journal.
The company planw to continue to operate itstwo St. Louiz stores, which have recorded recent growth in sales and The stores are located at 8620Olivr Blvd. and 9109 Watson Road. EJ’s also plan to keep open its Palm Desert, store. However, the company may close stores in Arizonqa and the Houston areaif can’t renegotiatre cheaper rents. “In Houston, business at several storea never fully rebounded after the hurricanesw hit shutting down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishin g numbers of snowbird shoppers who did not return this thecompany said.
EJ’s alreadu closed a store in Costa Mesa, According to the bankruptcy filing, the company has assetsw of between $500,000 and $1 milliob and liabilities of between $10 milliohn and $50 million. EJ’s, formerlgy known as Famous Brand Shoes, to the name in 2007 to St. Louis-basedd Inc., which then renamed its 23 Supermarketr of Shoes retail stores toFamous Footwear. EJ’s was founded in St. Louix in 1972 by Edward Nusrala andhis family.
Nusrala and his familu still are the majority shareholders inthe