BUSINESS

Canadian Nine West Shoe Store Owner Gets Reprieve From Its Creditors

07/29/2015 08:24 EDT | Updated 07/29/2016 05:59 EDT
Nine West
TORONTO — Shoe retailer Sherson Group, which operates Nine West stores in Canada, has been given a reprieve from its creditors until next week.

Court documents say the company, which filed for bankruptcy protection in early July, will now have until Aug. 6 to get its finances in order.

Lawyer Sam Babe, who is representing Sherson Group, said Tuesday the extension meets the requests of the company, which wants to move quickly to resolve its financial problems.

Sherson Group told Ontario Superior Court it has been working with Nine West Group Inc., the New York-based company which licenses its name to Sherson, to stay in business.

It owes Nine West Group about $19 million.

Sherson Group operates 43 Nine West locations in Canada, two factory outlet stores and a wholesale operation. 

The company says it has about 549 employees.

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