Following on from its Chapter 11 bankruptcy protection filing in March, the Chicago-based men’s footwear retailer, Florsheim Group Inc., has confirmed that it is to seek court approval to sell most of its assets to Weyco Group.

In making the announcement, the company said it had received no other qualified bids by the April 30 deadline, set out under the terms of the original court ruling. (See leatherbiz.com story ‘Florsheim returns to the family fold – 06.03.02’).

Subject to the court’s approval, Milwaukee, Wisconsin-based Weyco will pay $47.3 million for Florsheim's assets, adding them to its existing portfolio of brands which includes Brass Boot and Stacy Adams.

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