Nusralas

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The University City-based company operates 15 discount shoe storesz across the country underthe EJ’sx Designer Shoe Outlet, E&J’s Designer Shoe Outletf and Shoe Cents names. Locally, EJ’s has stores in Olivettew and Crestwood. EJ’s owes about $3.3 according to a motion filed June 10 in which Commerced agreed to allow the company to use its cash on hand to fund ongoinh operations duringthe reorganization. EJ’s was foundex in St. Louis in 1972 by Edward Nusrala andhis family.
According to the the store was “founded on the then-novel idea that department storwe brands ought to be availablew at everyday discounted Nusrala and his family still are the majority shareholdere inthe company. Companyh President Edward Nusralaowns 21.69 percent of the Edward J. Nusrala Jr. holds 17.41 and Mimika Nusrala owns 10.86 percent. Other shareholders are Ameliaz McMaken, 16.31 percent; Juliette Doorack, 17.41 percent; and Mimika Meskill, 16.31 percent, accordinvg to a June 5 filing in for the Easternb Districtof Missouri. According to the bankruptcyy filing, the company has assetsx of between $500,000 and $1 million and liabilitied of between $10 million and $50 million.
EJ’s boarcd of directors held a meeting June 4 in whicy it was determined that it was inthe “best interesr of the company, its creditors and othe interested parties” for a reorganization unde r a Chapter 11 bankruptcy to be according to the Many of the company’s largest unsecured creditor are landlords of store with the largest creditor being La Jolla, Calif.-base , owed $886,919 on the leasde for the EJ’s store in Palm Desert, Calif. In the St. Loui region, EJ’s owes $573,344 on the leases for its Olivette storr at 8620Olive Blvd., and owes G.J.
Grewes $260,296 on the lease at 9109 Watson Road in Other local creditorsinclude Olivette-based , which EJ’s owes $180,00o9 for inventory, and Fenton-base Footwear Unlimited, which is owed $77,952 for Other creditors owed for unpaifd inventory include Cole Haan and the EJ’es previously did business as Famous Brand but in 2007 acquireed the rights to the name from EJ’s. Brown renamef its Supermarket of Shoes retail storesas stores, and the forme r Famous Brand Shoes changed its corporatw name to EJ’s Shoes Inc. Besides St. Louis and Palm EJ’s has locations in Texas and Arizona.
Laurqa Uberti Hughes and Nicholas Frank e of local law firm arerepresenting EJ’ s in the bankruptcy proceedings.