Sterling Shoes Announces Restructuring associated with Store Portfolio plus Extension of CCAA Order

Sterling Shoes Inc. as well as Sterling Shoes GP Inc. (general partner of Sterling Shoes Limited Relationship) (collectively, the "Company") mention today the recommended future closure associated with 53 store areas in British Columbia, Alberta plus Ontario.

Stores have been selected for final after extensive investigation and based on variables established as part of the Firm's business strategy. Liquidation task in the closing suppliers commenced on 12 9, 2011.

This company is continuing along with 5 Freedman stores, Twenty-eight Sterling stores and 72 Shoe Warehouse merchants. These remaining shops will continue to operate over a normal basis. With completion of the store-closing procedure, the Company's total keep portfolio will involve 105 stores.

The corporation believes that the restructured store portfolio can be an integral and positive step towards developing the foundation for foreseeable future growth and re-establishing yourrrre able to send long-term viability.

The Company likewise announced today so it has obtained a purchase order (the "Order") from the Top court of British Columbia in the Companies' Creditors Arrangement Take action (Canada) (the "CCAA") offering a further extension for the stay of proceedings (the "Stay") which was given pursuant to an initial order obtained by the Company on October 7, 2011 and was extended by a even more order obtained upon November 18, This year. With today's Order the Court has exte nded your Stay until August 2, 2012 using liberty to apply to advance extend the Be period. Under direction of the Court, Sterling Shoes' supervision has been developing a restructuring plan that management thinks will facilitate giving back the Company to a situation of financial health.

Pertaining to STERLING SHOES

Sterling Shoes can be headquartered in Vancouver, B.C. which is a leading independent sneakers retailer offering a wide selection of private label plus brand name shoes and accessories. Founded in 1987, Sterling Shoes LP functions over 100 outlets across Canada.

FORWARD-LOOKING Transactions

Certain statements within this press release, including claims regarding the anticipated performance of the Company just after restructuring, the timetable with regard to liquidation and store closings along with duration of the CCAA procedure, may constitute "forward-looking" statements that involve known and unknown risks, questions and other factors which may cause our specific results,red bottom shoes for women on sale, performance and also achievements, to be materially not the same as any results, performance or maybe achievements expressed or even implied by this kind of forward-looking statements. The ahead looking statements was comprised of herein are based on particular assumptions including suppositions regarding the time essential to complete the restructuring, liquidation and store closing approach, the impact of those processes on the Firm's future performance, the ability of the Company to obtain a part of the Stay along with the continued operation from the remaining stores. When used in this blog post, such statements normally use, but are not confined to, such words since "may", "will", "expect",red bottoms for women on sale, "should", "believe", "intend", "plan", "anticipate", "potential", and other similar language. Although the forward-looking statements incorporated into this press release are usually based upon management's reasonable assumptions, the Company cannot ensure investors that actual results will be according to hese forward-looking statements. These forward-looking assertions are made as of your date of this website article and the Company assumes no obligation to help update or change them to reflect innovative events or scenarios, except as needed by law.

Contacts:
Sterling Shoes Incorporated.
Daniel S. Gumprich
Chief Fiscal Officer
(604) 270-6114
(604) 278-7751 (FAX) com