Rent concessions will keep most Walking Company stores open

The Walking Company, a footwear chain that was poised to close half of its 210 stores last month, won't have to after winning rent concessions from 90 mall landlords in bankruptcy court. The Santa Barbara, Calif., chain operates stores in four Tampa Bay area malls. The company filed for Chapter 11 bankruptcy protection Dec. 7 in the run up to the holiday season. Days after choosing a liquidator to handle store closings, the company got $10 million from an investment firm and lower rent that will allow the company to keep 207 stores open. The rewritten leases are part of a reorganization plan filed this week that would lift the company from bankruptcy.