Beleaguered footwear retailer, Footstar, Inc, has announced it is to exit its athletic footwear business, consisting of 353 Footaction stores.

The New York, US-based company, which earlier this month filed for Chapter 11 bankruptcy protection, cited the absence of new supplies from its largest vendor, Nike USA, Inc as a factor in the move.

The company plans to focus its full attention and resources on its core Meldisco business, a leader in the discount footwear segment.

Footstar has also announced that Shawn Neville, president of CEO of its athletic division is no longer with the organisation. Neville’s responsibilities have been assumed by a team of executives including Mark Lardie, Jodi Johnson, Dennis Lyons and Mike Lynch.

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