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Collective Brands shareholders approve sale of company
Topeka, Kan. -- Collective Brands stockholders voted at a special meeting on Tuesday to approve the sale of the company for about $1.32 billion.
Collective, which owns the Payless and Stride Rite shoe store banners, had announced in May that it accepted a purchase offer from a group that includes Wolverine Worldwide Inc., Blum Capital Partners and Golden Gate Capital.
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Mark Shale files for Chapter 11 bankruptcy protection
Chicago -- Chicago high-end fashion retailer Mark Shale said Tuesday it has filed for reorganization bankruptcy.
The 83-year-old company is seeking strategic alternatives, including a partner to fortify the business, according to president Rich Myers.
The three existing stores – all in Chicago – will continue to operate during the reorganization process.