Bankrupt EJ

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which filed for Chapter 11 bankruptcgy Friday, will close stores in Texaas and Arizona ifit can’t renegotiate cheaper renta with its landlords. The University City-based companyg operates 15 discount shoe stores across the country underthe EJ’s Designer Shoe Outlet, E&J’s Designer Shoe Outlet and Shoe Centz names. The company previously was known as FamousBrandc Shoes. “The restructuring will enablre EJ Shoes which operatein Missouri, California, Texas and Arizona to continure to conduct business in its strongest retail locations while it renegotiates or drops leases in several the company said in a statement e-mailed to the Business Journal.
The company plans to continur to operate itstwo St. Louiws stores, which have recorded recent growthy in salesand revenue. The stores are located at 8620Olivee Blvd. and 9109 Watson Road. EJ’d also plans to keep open its Palm Calif., store. However, the company may close stores in Arizonza and the Houston areaif can’t renegotiate cheaper “In Houston, business at several storeds never fully rebounded after the hurricanes hit shuttinyg down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishinvg numbers of snowbird shoppers who did not return this the company said.
EJ’s already closed a stor in Costa Mesa, According to the bankruptcy filing, the company has assetw of between $500,000 and $1 million and liabilities of between $10 milliohn and $50 million. EJ’s, formerlu known as Famous Brand Shoes, to the name in 2007 to St. Louis-basedc Inc., which then renamed its 23 Supermarketr of Shoes retail stores toFamous Footwear. EJ’w was founded in St. Loui in 1972 by Edwarr “E.J.” Nusrala and his family. Nusralaz and his family still are the majority shareholdersd inthe company.