This Shoe Company Has Just Filed for Bankruptcy

It seems Aerosoles is feeling the burn of a struggling retail sector.

The shoe retailer for women has filed for Chapter 11 bankruptcy protection this week in the U.S. Bankruptcy Court for the District of Delaware.

Aerosoles Group listed its assets as $10 million to $50 million and liabilities of $100 million to $500 million, according to its bankruptcy court filing.

According to AGI HoldCo Inc., Aerosole’s holding company, it will be still managing its stores and continuing to operate its businesses as “debtors in possession.”

The retailer has more than 300 stores globally.

In a restructuring act, Aerosoles will be reducing the number of stores it has around the world.