Shoe Pavilion goes out of business

BURBANK, Calif. The Sherman Oaks-based chain is closing all 64 of its remaining locations and is holding a huge going-out-of-business sale.

The closing is another example of how the tough economy is affecting retailers. Last week, the ax fell on Mervyns and Linens 'n Things.

Shoe Pavilion won an emergency bankruptcy court order, allowing it to hire liquidators to close all its stores. The chain declared bankruptcy in July after five straight quarterly losses.

As the public heads into holiday season, the closing should benefit consumers in the midst of the economic crisis.

The sale will last anywhere from 10 to 12 weeks, but it will do little do appease Shoe Pavilion fans.

All store locations are expected to be closed within the next three months.

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