Town Shoes Canada Taps SB360 Capital Partners to Conduct Closing Sale
TORONTO, Ontario – November 8, 2018 – Town Shoes Canada, a trend setting mid-luxury footwear retailer, has retained SB360 Capital Partners LLC (www.sb360.com), to assist in the closure of all 28 stores operating as Town Shoes and the Town Shoes ecommerce platform. Ohio based DSW Inc., parent company of Town Shoes Limited, announced earlier this year the decision to close all stores bannered as Town Shoes. The Company will focus their Canadian investment on the growth of the larger Town Shoes Limited banners including DSW Designer Shoe Warehouse, The Shoe Company, and Shoe Warehouse.
SB360 Capital Partners (“SB360”) is one of North America’s largest and most experienced companies providing asset disposition and advisory services. SB360 will assist Town Shoes with the liquidation of all inventory and the orderly wind-down of the remaining 28 stores and the ecommerce platform. A “Closing Sale” is already underway with discounts storewide and across all categories of the ecommerce platform.
Ziggy Schaffer, Executive Vice President of SB360, said “Town Shoes in Canada is synonymous with high quality, trend-setting footwear for Men and Women. To find this level of mid-luxury product at a discount is really unheard of.”
“Town Shoes is an incomparable brand well-known throughout Canada,” said Aaron Miller, Executive Vice President of SB360. “With some of the finest labels to be found anywhere, the discounts offered during the winddown will be historic.”
Over the last couple months SB360 assisted Town Shoes with the closing of locations in the Fairview Mall and Chinook Centre. Earlier this year the firm helped Nine West Canada with the closure of 35 Nine West stores and the winddown of the Nine West Canada ecommerce store. SB360 is currently engaged in numerous US ventures and is assisting US furniture labels Thomasville and Broyhill with the closure of company-owned stores.
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About SB360 Capital Partners, LLC: SB360 Capital Partners (www.sb360.com), a Schottenstein Affiliate, helps businesses manage change, restructure assets, and turn around dwindling profitability. SB360’s equity investments in retail, wholesale, and consumer product companies, fund turnarounds and infuse capital for growth opportunities. Other acquisitions provide liquidity to businesses experiencing change. SB360 acquires assets of all types including inventory, fixed assets, intellectual property, real estate, and complete business units. Asset disposition services range from guaranteed asset value recovery to acting as a liquidation consultant. The firm also has entities engaged in real estate advisory, commercial real estate investment, and the operation of the SBC Logistics Asset Recovery Center in Columbus. A lending affiliate, Second Avenue Capital Partners, provides asset-based loans for middle market companies. The principals of SB360 hold extensive commercial interests in national retail and wholesale operations; internationally recognized consumer brands; commercial, residential, and industrial real estate properties; and financial service operations.
About Town Shoes Limited: With more than 65 years of retailing heritage, Town Shoes Limited is the largest branded footwear retailer in Canada. The company operates stores across Canada under four banners: Town Shoes, DSW Designer Shoe Warehouse, The Shoe Company, and Shoe Warehouse—each dedicated to fashion, quality and value. Town Shoes Limited is based in Toronto, Ontario, and is a division of U.S.-based DSW Inc.