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Footstar, Inc., at that time the parent company of Footaction USA, purchased the Just For Feet name and the leases of over 70 of its stores in February 2000. [5] Those stores that remained opened continued to do business under the Just For Feet name until Footstar itself filed for Chapter 11 protection in 2004.
A closeout or clearance sale (also called a closing down sale in the United Kingdom [1]) is a discount sale of inventory either by retail or wholesale. It may be that a product is not selling well, or that the retailer is closing because of relocation, a fire (a fire sale ), over-ordering, or especially because of bankruptcy . [ 2 ]
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Thom McAn is an American brand of shoes and was formerly a retail chain. Its shoes have been sold in Kmart and Sears stores. It consists of leather-dress, casual, and athletic shoes (under its Tm Sport label).
In 2004, Foot Locker acquired the Footaction USA brand and approximately 350 stores from Footstar for $350 million (~$541 million in 2023). [8] On April 14, 2004, Foot Locker Inc. announced that it agreed to buy about 350 Footaction stores from bankrupt Footstar Inc. for $160 million (~$247 million in 2023) to expand in urban areas. [9]
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