Shoemaker Rockport Explores Options Including Sale

12/14/17

The Rockport Group is exploring its options, including a possible sale, after one of the U.S. footwear maker’s major debtholders took ownership of the company, people familiar with the matter said Wednesday.

Rockport’s plans to review its options, which the three sources said could also include an equity or debt infusion, come as many brick-and-mortar retailers struggle to cope with the popularity of online shopping and changing consumer tastes.

Investment bank Houlihan Lokey Inc (HLI.N) is advising Rockport on its review, according to the sources. Alternative asset manager Crescent Capital Group LP, a major creditor of Rockport, took ownership of the footwear seller in recent weeks from private equity firm Berkshire Partners LLC and injected new capital into the company with other co-investors, the sources said.

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