Foot Locker to purchase 350 Footaction stores
Foot Locker, Inc, the New York-based specialty athletic retailer, has agreed to purchase around 350 Footaction athletic footwear and apparel stores for $160 million in cash.
Footstar, Inc. filed for Chapter 11 bankruptcy protection on
Matthew D. Serra, Foot Locker’s chairman and CEO, said: “Our strong financial position enables the company to readily complete this cash acquisition. We anticipate offering employment to substantially all of the Footaction store associates.”
For past story see leatherbiz.com, ‘Footstar to sell athletic footwear business - 30.03.04.’
