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C Street Advisory Group is working the Chapter 11 filing of Shoes For Crews, Boca Raton, FL-based maker of slip-resistant private label footwear brands for workplaces.
The financial restructuring is expected to lead to the auction of SFC, which produces shoes for New Balance, MOZO, Puma Safety, DeWalt, Ace and Cole Haan.
The pandemic, shift to online shopping, retailer doldrums and inflation hit the bottom line of SFC.
CEO Donald Watros said Chapter 11 will help the company get its balance sheet in order.
With the support of strong new ownership, Watros said SFC will continue its mission of creating a safer workplace by developing footwear “to bring every employee home safely.”
SFC founder Stan Smith launched the company in 1984 after he noticed a rise in workplace injuries caused by slips and falls.
The company serves the healthcare, hospitality, foodservice, educational and industrial sectors.
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