The Walking Company, Big Dog USA and The Walking Company Holdings reached confirmation less than five months after their December 7, 2009 Chapter 11 filings. The operating retailer listed The Walking Company assets and liabilities each at $50 million to $100 million, with 100 to 199 creditors, while Big Dog listed $10 million to $50 million in assets and liabilities; both petitions put the cases in Chapter 11 and identified management signatories for the retail debtors source filing source filing.

The disclosure statement framed the filing around a retail lease and liquidity reset: The Walking Company operated 207 comfort-footwear stores, Big Dog had been reduced from more than 140 stores to two, the debtors had more than 1,600 employees, 2009 revenue of $193 million, and an $8.1 million operating loss. The plan relied on renegotiated real estate costs, concessions from noteholders and creditors, a $10 million investor capital infusion led by Richard Kayne, and $30 million of exit financing with WFRF, the secured lender source filing.

The court confirmed the Second Amended Joint Chapter 11 Plan dated March 9, 2010, finding the plan feasible and accepted by impaired Classes 2 and 10. The order approved the exit financing, the investor commitment and new preferred stock issuance, required an unsecured-claims reserve to support payment in full of allowed general unsecured claims, and vested estate property in the reorganized debtors free and clear of claims, liens and interests except as provided in the plan source filing.