The Walking Company, a wholly owned subsidiary of Big Dog Holdings, Inc., has agreed to acquire substantially all the assets of Steve's Shoes, Inc. for approximately $4.2 million in a bankruptcy auction. Steve's Shoes is one of the largest independent comfort shoe retailers in the USA and operates 45 stores in 22 states under the store names Steve's Shoes, Overland Trading Co., and Sole Outdoors.

Steve's Shoes, which was founded 67 years ago and grew from one store in Kansas City to 78 stores across the nation, declared bankruptcy several weeks ago. The Walking Company has agreed to acquire at least 35 of the stores and has retained the right to accept, assign or reject the ten remaining stores after a 90-day trial period.