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Article: Liz Claiborne reaches agreement in principal with U.S. Shoe Corp.
- Article from:
- PR Newswire
- Article date:
- July 16, 1990
CopyrightCOPYRIGHT 1990 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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LIZ CLAIBORNE REACHES AGREEMENT IN PRINCIPAL WITH U.S. SHOE CORP.
NEW YORK, July 16 /PRNewswire/ -- Liz Claiborne, Inc. (NASDAQ: LIZC) and the United States Shoe Corporation (NYSE: USR) today announced that they have reached an agreement in principle whereby Liz Claiborne will assume responsibility for the operations of the Liz Claiborne shoe business.
As part of the transaction, Liz Claiborne would acquire certain assets of U.S. Shoe's Marx & Newman division for an undisclosed cash purchase price. U.S. Shoe has operated this business since 1981 under a license granted by Liz Claiborne, Inc. As part of the arrangements, U.S. Shoe will act as Liz ...