Rockport today announced that it has filed for Chapter 11 bankruptcy protection in order to be acquired by CB Marathon Opco, LLC an affiliate of Charlesbank Equity Fund IX.
In a statement, Rockport said the “asset purchase agreement” will enable the company to focus on global wholesale, independent retail, and ecommerce operations in Asia and Europe.
As part of the sale, Charlesbank will have the opportunity to decide to acquire any of Rockport’s North American retail operations. In the meantime, Rockport is seeking court authorization to close retail locations not acquired by Charlesbank or any other company.
For now, customers can continue to shop for Rockport’s brands—including Aravon and Dunham—at leading department stores and specialty retailers around the world, as well as online and at retail locations in the U.S., Canada, Europe, and Asia.
Details about any store closings will be provided by Rockport at a later date, according to a news release.
"Since our founding more than 45 years ago, Rockport has revolutionized the footwear industry, merging the comfort of athletic shoes with the smart, sophisticated look of dress and casual styles," Rockport said in its statement. "...Importantly, we do not expect the availability of Rockport shoes to be affected anywhere in the marketplace. We are as committed as ever to delivering the same great products you know and love.”