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. At the time, the company listed $60 million in assets and $25 million to $27 million in liabilities. Since filing bankruptcy, Shoe Pavilion has closed 49 underperforming stores, leaving it with 64 left in the chain. On Oct. 20, 2008, liquidation firm Great American Group, said Shoe Pavilion had commenced going-out-of-business sales at its remaining 64 stores in California, Washington, Oregon and New Mexico. Great American is managing this last round of liquidation in cooperation with SB Capital Group, Tiger Capital Group and Hudson Capital Partners. The group plans to maximize the liquidation sales by staying open through the holiday shopping season and plans for the stores to be shuttered by Mid-January. According to CoStar Tenant, Shoe Pavilion stores range in size from 2,000 to about 30,000 square feet, but the typical store is 15,000 square feet and serves as a junior anchor store in a power center or community center.