News / Ceva top creditor as shoe company goes bust, hit by e-commerce boom

Photo; Shoes for Crews

The bankruptcy of a shoe company in the US has revealed an interesting snapshot of creditors, with freight and logistics accounting for 41% of the total debt. 

Shoes for Crews, a non-slip workwear shoe company, filed for Chapter 11 on 1 April. According to the filing, it had been affected by “adverse macro-trends, including increased competition among online retailers that have less leveraged capital structures and greater economies of scale. These adversities were compounded by the disruption caused by Covid-19, which ...