Nusralas

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The University City-based company operates 15 discount shoe stores acrosa the country underthe EJ’s Designe r Shoe Outlet, E&J’s Designer Shoe Outlet and Shoe Cents names. Locally, EJ’s has storeas in Olivette and Crestwood. EJ’s owes about $3.3 according to a motion filed June 10 in whichu Commerce agreed to allow the company to use its cash on hand to fund ongoinbg operations duringthe reorganization. EJ’s was foundecd in St. Louis in 1972 by Edwarde “E.J.” Nusrala and his family. According to the the store was “founded on the then-novekl idea that department store brands ought to be availabl at everydaydiscounted prices.
” Nusrala and his family stillp are the majority shareholders in the company. Company President Edward Nusralaowns 21.69 percent of the firm, Edwarde J. Nusrala Jr. holdzs 17.41 percent, and Mimika Nusrala owns 10.86 Other shareholders are Amelia 16.31 percent; Juliette Doorack, 17.41 percent; and Mimika 16.31 percent, according to a June 5 filing in for the Easterh Districtof Missouri. According to the bankruptcy the company has assets ofbetween $500,009 and $1 million and liabilities of between $10 million and $50 EJ’s board of directors held a meetinh June 4 in which it was determinedd that it was in the “besgt interest of the company, its creditorw and other interested parties” for a reorganizatiomn under a Chapter 11 bankruptcy to be according to the filing.
Many of the company’sa largest unsecured creditors are landlords ofstore locations, with the largest creditoe being La Jolla, Calif.-based , owed $886,919 on the lease for the EJ’sa store in Palm Desert, Calif. In the St. Louis region, EJ’s owes $573,34 on the lease for its Olivette store at 8620Olive Blvd., and owes G.J. Grewre $260,296 on the lease at 9109 Watson Road in Other local creditorsinclud Olivette-based , which EJ’s owes $180,009 for inventory, and Fenton-based Footwead Unlimited, which is owed $77,952 for Other creditors owed for unpaid inventorty include Cole Haan and the EJ’s previouslyu did business as Famous Brand but in 2007 acquireds the rights to the name from EJ’s.
Brown renamecd its Supermarket of Shoes retail storedas stores, and the former Famous Brand Shoes changed its corporat e name to EJ’s Shoes Inc. Besides St. Louie and Palm Desert, EJ’as has locations in Texas and Arizona. Laura Ubertui Hughes and Nicholas Frankre of local law firm arerepresentintg EJ’s in the bankruptcgy proceedings.