On Sept. 15, 2017, global footwear company Aerogroup International Inc. and its affiliates filed petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware.

The debtors, well known for their Aerosoles shoe brand, operate online, wholesale, royalty and licensing businesses. The debtors attributed their bankruptcy filing to a combination of revenue decline following a rise in retail store investment in 2012 and 2013, unfavorable lease terms and a nationwide retail decline.