Footstar is a shoe

Shoe

A shoe is an item of footwear intended to protect and comfort the human foot while doing various activities. Shoes are also used as an item of decoration. The design of shoes has varied enormously through time and from culture to culture, with appearance originally being tied to function...

 retailer based in Mahwah, New Jersey

Mahwah, New Jersey

Mahwah is a township in Bergen County, New Jersey, United States. As of the 2010 United States Census, the township population was 25,890. The name Mahwah is derived from the Lenni Lenape word "mawewi" which means "Meeting Place" or "Place Where Paths Meet".The area that is now Mahwah was...

. , it principally conducts business through its Meldisco Segment which sells and operates family footwear stores principally within Kmart

Kmart

Kmart, sometimes styled as "K-Mart," is a chain of discount department stores. The chain acquired Sears in 2005, forming a new corporation under the name Sears Holdings Corporation. The company was founded in 1962 and is the third largest discount store chain in the world, behind Wal-Mart and...

 stores as part of Footstar's Shoemart unit. Under a July 2005 agreement with Kmart, Footstar will continue operating stores within Kmart until December 31, 2008 at which point Footstar will sell the remaining inventory to Kmart and wind down the business. The company also distributes its own Thom McAn

Thom McAn

Thom McAn is a brand of shoes distributed by Footstar, Inc., formerly the Melville Corporation . The brand is currently sold in Kmart and Wal-Mart stores, and consists of leather dress, casual, and athletic shoes...

 brand of leather footwear through Rite-Aid stores.

Footstar emerged from Chapter 11

Chapter 11, Title 11, United States Code

Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most...

 bankruptcy

Bankruptcy

Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....

 on February 6, 2006. The company is currently traded under the symbol "FTAR" on the Pink Sheets

Pink Sheets

OTC Markets Group, Inc., informally known as "Pink Sheets", is a private company that provides services to the U.S. over-the-counter securities market including electronic quotations, trading, messaging, and information platforms. According to the U.S. Securities and Exchange Commission, OTC...

.

Financial difficulties

The company entered Chapter 11 in March 2004. Prior to bankruptcy, the company had an additional Athletic Segment which sold athletic footwear and apparel through various retail chains (for example, Footaction and Just For Feet

Just For Feet

Just For Feet Inc. was an athletic shoe and sportswear retailer headquartered in Birmingham, Alabama which became one of the largest and fastest growing athletic stores in the United States. In 2000 Footstar acquired Just For Feet...

), and via catalogs and the Internet.