Company Overview - The Palm Beach Sandal Company has filed for Chapter 11 bankruptcy protection, citing former first lady Jacqueline Kennedy as its muse for the original sandal created in 1964 [1] - The company operates under Subchapter V of Chapter 11, which is designed for small- and mid-sized companies to restructure operations without the high costs typically associated with Chapter 11 [2] Financial Situation - The voluntary petition indicates that there will be funds available for distribution to unsecured creditors, with the number of creditors listed between 1 and 49 [3] - Estimated assets are up to $50,000, while estimated liabilities range from $1 million to $10 million [3] Product Offering - Palm Beach Sandals are handmade using 100% tanned leathers and kidskins, with prices ranging from $158 to $198 for women's sandals and $95 for girls' sandals [4] - The company also offers customization options for sandals and sells a selection of apparel and accessories [4] Inventory and Operations - The company has over 2,000 pairs of sandals in stock and allows customers to visit its factory and workshop in West Palm Beach, Florida [5] - The brand operates curated guest boutiques along Vias in Palm Beach, enhancing its retail presence [5] Industry Context - Other distressed shoe companies this year include Soleplay, which closed four stores, and Amiga Shoes, which filed for Chapter 7 liquidation [6] - Freebird, a handmade boot specialist, closed 14 store locations and was sold to a private equity firm after failing to repay a significant debt [7]