October 19, 2017 5:44 AM ET

Specialty Retail

Company Overview of Collective Brands Finance, Inc.

Company Overview

Collective Brands Finance, Inc. through its subsidiaries, owns and operates shoe stores. Collective Brands Finance, Inc. was formerly known as Payless ShoeSource Finance, Inc. The company is based in Topeka, Kansas. Collective Brands Finance, Inc. operates as a subsidiary of Payless Inc.

3232 Southeast 6th Avenue

Topeka, KS 66607

United States

Phone:

785-233-5171

Fax:

785-368-7524

Key Executives for Collective Brands Finance, Inc.

Collective Brands Finance, Inc. does not have any Key Executives recorded.

Collective Brands Finance, Inc. Key Developments

Fifth Amended Reorganization Plan Approved for Payless Inc.

The US Bankruptcy Court ordered approving the fifth amended joint plan of reorganization of Payless, Inc. on July 26, 2017. Administrative Claims, Professional Fee Claims, Priority Tax Claims, Other Priority Claims and United States Trustee Statutory Fees shall be paid full in cash. Prepetition First Lien Credit Agreement Claims of $506.30 million will recover 83% of the allowed amount. Prepetition Second Lien Credit Agreement Claims of $145 million will recover approximately 15% of the allowed amount. The Term DIP facility Claims of $80 million will be paid in debt issuance. Other General Unsecured Claims of $121.8 million shall recover 18.1% of the allowed amount. The holders shall receive Pro Rata share of $3.66 million of Other General Unsecured Claims Recovery Pool and will receive share a distribution of pool of $25 million with Holders of Allowed Worldwide General Unsecured Claims. General Unsecured Claims against Payless ShoeSource Worldwide, Inc. of $46.60 million will recover 22.1% of the allowed amount. The holders shall receive Pro Rata share of $3.66 million of Worldwide GUC Claims Recovery Pool and will receive share a distribution of pool of $25 million with Holders of Other General Unsecured Claims. Canadian general unsecured claims of $1.6 million will be reinstated. Intercompany claims of $104.9 million will be reinstated. The Qualified Unsecured Trade claims have been omitted and there is no other secured claim. Existing Equity Interests shall be cancelled. Intercompany Interests shall be cancelled or reinstated. Section 510(b) Claims shall be cancelled. The plan will be funded through New ABL Facility, a New First Lien Term Loan Facility and New Equity in Reorganized Holdings. The plan sponsors will contribute $5.44 million in cash on the balance sheet of Payless Holdings LLC plus an additional $15.75 million in Cash that will be contributed to the Debtors.

Fifth Amended Reorganization Plan Filed by Payless Inc.

Payless Inc. filed a fourth amended plan of reorganization in the US Bankruptcy Court on July 21, 2017. As per the plan filed, there is no change in treatment of various claimant classes.

Fourth Amended Reorganization Plan and Disclosure Statement Filed by Payless Inc.

Payless Inc. filed a fourth amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on June 23, 2017. As per the plan, Prepetition First Lien Credit Agreement Claims of $506.30 million will recover 83% of the allowed amount. Prepetition Second Lien Credit Agreement Claims of $145 million will recover approximately 15% of the allowed amount. Other General Unsecured Claims of $121.8 million shall recover 18.10% of the allowed amount. The holders shall receive Pro Rata share of $3.66 million of Other General Unsecured Claims Recovery Pool and will receive share a distribution of pool of $25 million with Holders of Allowed Worldwide General Unsecured Claims. General Unsecured Claims against Payless ShoeSource Worldwide, Inc. of $46.60 million will recover 22.1% of the allowed amount. The holders shall receive Pro Rata share of $3.66 million of Worldwide GUC Claims Recovery Pool and will receive share a distribution of pool of $25 million with Holders of Other General Unsecured Claims. The plan sponsors will contribute $5.44 million in cash on the balance sheet of Payless Holdings LLC plus an additional $15.75 million in Cash that will be contributed to the Debtors. The treatment of remaining classes of claims remains unchanged.

Similar Private Companies By Industry

Company Name Region
#1 Cochran, Inc. United States
#1 Cycle Center, Inc. United States
1 Stop Electronics Center, Inc. United States
10 West Motorsports, Inc. United States
100MAC, Inc. United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
\
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
The Advertising Council, Inc. United States
NYC2012, Inc. United States
Tax Management Inc United States
Bertelsmann AG Europe

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Collective Brands Finance, Inc., please visit --. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.