Sherman Oaks, CA-based footwear retailer, Shoe Pavilion, filed for chapter 11 bankruptcy protection July 16, 2008. As of March 29, 2008, the off-price shoes and accessories retailer operated a chain of 113 stores in Washington, Oregon, California, Arizona, Nevada, Texas and New Mexico. The company listed $60 million in assets and $25 million to $27 million in liabilities. In its bankruptcy filing, Shoe Pavilion said 43 underperforming stores would "need to be closed in an expeditious manner." An additional 28 stores are likely to close unless landlords cooperate with rent breaks, said the retailer. Shoe Pavilion said store closing liquidation sales would start soon and likely be complete by the end of November.