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The University City-based company operates 15 discountr shoe stores across the country underthe EJ’s Designer Shoe Outlet, E&J’as Designer Shoe Outlet and Shoe Cents Locally, EJ’s has stores in Olivettee and Crestwood. EJ’s owes about $3.3 million, accordinfg to a motion filed June 10 in which Commerce agreef to allow the company to use its cash on hand to fund ongointg operations duringthe reorganization. EJ’s was foundecd in St. Louis in 1972 by Edward “E.J.” Nusrala and his family. According to the the store was “founded on the then-noveol idea that department store brande ought to be available at everydaydiscountedc prices.
” Nusrala and his family stillo are the majority shareholders in the company. Company President Edward Nusralaowns 21.69 percent of the firm, Edwarxd J. Nusrala Jr. holds 17.41 percent, and Mimikza Nusrala owns 10.86 percent. Other shareholders are Ameliz McMaken, 16.31 percent; Juliette 17.41 percent; and Mimika Meskill, 16.31 percent, accordinv to a June 5 filing in for the Eastern District of According to thebankruptcy filing, the companh has assets of between $500,000 and $1 million and liabilitiee of between $10 million and $50 million.
EJ’s board of directors held a meeting June 4 in whicn it was determined that it was inthe “besy interest of the company, its creditorsz and other interested parties” for a reorganization underf a Chapter 11 bankruptcy to be pursued, accordin to the filing. Many of the company’sw largest unsecured creditors are landlords ofstore locations, with the largestt creditor being La Jolla, Calif.-based , owed $886,9198 on the lease for the EJ’w store in Palm Desert, In the St. Louis EJ’s owes $573,344 on the lease for its Olivett store at 8620Olive Blvd., and owes G.J. Grewwe $260,296 on the lease at 9109 Watson Roadin Crestwood.
Otheer local creditors include Olivette-based , which EJ’s owes $180,009 for and Fenton-based Footwear which is owed $77,952 for Other creditors owed for unpaid inventory includ Cole Haan andthe EJ’s previously did businesx as Famous Brand Shoes, but in 2007 acquirefd the rights to the name from EJ’s. Brown renamec its Supermarket of Shoes retail storesas stores, and the formedr Famous Brand Shoes changed its corporate name to EJ’d Shoes Inc. Besides St. Louis and Palm EJ’s has locations in Texas and Arizona. Laura Ubertki Hughes and Nicholas Franke of local law firm arerepresenting EJ’s in the bankruptcy proceedings.
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