Walking unsecured creditors committee agrees to support plan

By Caroline Salls

Pittsburgh, Feb. 16 - The Walking Co. Holdings, Inc.'s unsecured creditors committee has agreed to support the company's plan of reorganization and not seek other alternatives, according to a company news release.

"With this positive result, we are now looking to emerge from chapter as early as mid April," Walking chief executive officer Andrew Feshbach said in the release.

Working closely with its bank, landlords, vendors, and shareholders, the company said it has been able to restructure its balance sheet and long-term financial obligations.

As a result, Walking submitted a reorganization plan on Feb. 2 under which it would keep 207 of its 214 current store locations open and pay off all of its debts and future obligations to trade creditors.

Walking Co., a Santa Barbara, Calif.-based comfort footwear retailer, filed for bankruptcy on Dec. 7. Its Chapter 11 case number is 09-15138.

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