A bankruptcy court in Delaware has approved footwear company Rockport’s plan to liquidate.
The Rockport Group had filed for Chapter 11 bankruptcy in May — with an eye to being acquired. Most of its assets were sold in August for $150 million to an affiliate of Charlesbank Capital Partners, which was the only bidder for the company.
Prior to filing for bankruptcy, Rockport’s wholesale operations accounted for about 57% of global sales. The brand also operated 27 stores in the U.S. and 33 in Canada.