Shiekh Shoes Files for Bankruptcy After Owing Nike $16 Million USD

U.S retailer Shiekh Shoes has filed for bankruptcy. Earlier in November the company spoke to Reuters, with founder Shiekh Ellahi saying "we are struggling because of the situation with the banks and suppliers." These issues included having to remodel over 61 of his 120 stores, with re-fits designed to match demands of wholesalers such as Nike, adidas, Puma and more. Wall Street Journal's Sara Germano reported on Twitter that the Shiekh Shoes filed for chapter 11 bankruptcy, citing that it owed m...