Case timeline

1. Apr 72023
   Petition: Court lets Gordon Brothers run Shoe City store-closing sales

   The court entered interim authority for ESCO to move immediately into going-out-of-business sales with Gordon Brothers, giving the case a liquidation timetable rather than a going-concern restructuring posture. The order authorizes ESCO to assume the Gordon Brothers consulting agreements, conduct store-closing sales, sell merchandise and FF&E free and clear of liens and claims, advertise the sales as going-out-of-business or store-closing events, and override lease restrictions that could otherwise slow the wind-down Interim Store Closing Order.

   The first-day declaration fills in the milestones professionals should track: ESCO targeted completion of store-closing sales by May 31, 2023, and separately proposed a lease-sale process with bids due May 12, an auction on May 15, a sale hearing on May 25, and a May 31 closing deadline First Day Declaration. That schedule concentrates value realization into a two-month window after filing.

   Sources and provenanceApril 7, 2023