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BRIEF-Payless Shoesource completes financial restructuring, emerges from Chapter 11
August 10, 2017 / 3:24 PM / 2 months ago

BRIEF-Payless Shoesource completes financial restructuring, emerges from Chapter 11

Aug 10 (Reuters) - Payless Shoesource:

* Payless Shoesource successfully completes financial restructuring and emerges from chapter 11

* Following completion of company’s restructuring, Paul Jones will retire as Chief Executive Officer ​

* Emerged from its chapter 11 restructuring with “substantial liquidity” after eliminating in excess of $435 million in funded debt​

* Post-emergence, board of directors will begin a search to identify a new chief executive officer

* ‍Will be led by newly appointed executive committee comprised of CFO Michael Schwindle, COO Mike Vitelli, headed by MARTIN WADE, III, Interim CEO​​ Source text for Eikon:

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