The Walking Company has emerged from Chapter 11.
“We are very pleased to have finalized this process. The reorganization has positioned our company for long-term success,” states Andrew Feshbach, CEO. “We are excited to now focus on all of our growth initiatives for The Walking Company and ABEO footwear brand.”
A company press release stated that the new shareholders have a long relationship with the management team, ensuring a smooth transition, as well as an appreciation for the opportunities in the comfort shoe industry and future growth potential of ABEO. The new $10 million-plus of equity, along with support from an enhanced financing package from Wells Fargo will provide The Walking Company with sufficient capital to achieve its long-term growth objectives.
“I want to thank our vendor partners, landlords, stakeholders, financial partners, and business professionals for their continued support throughout this process,” Feshbach says. “I also want to thank our dedicated employees, who have remained focused on driving our business objectives.”