Toms Shoes Creditors to Take Over Firm to Fix Debt: Reuters
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Creditors of Toms Shoes LLC, the popular footwear seller that’s been struggling to weather declining sales amid a pile of looming debt, have agreed to take over the company in exchange for restructuring its debt.
The group of creditors, led by Jefferies Financial Group Inc., Nexus Capital Management LP and Brookfield Asset Management Inc. will assume the ownership from the shoemaker’s founder Blake Mycoskie and Bain Capital LP, Reuters reported, citing a company letter sent to its employees and people familiar with the matter.