NYC Shoes files Chap. 11, will continue operations.

NYC Shoes files Chap. 11, will continue operations PHILADELPHIA (FNS) -- Listing liabilities of $9 million, against assets of $4 million, New York City Shoes Inc., operator of a chain of wonen's discount fashion footwear stores, has filed a Chapter 11 petition in U.S. Bankruptcy Court, here.

Edward C. Toole Jr. of Clark, Ladner, Fortenbaugh & Young, here, counsel for New York City Shoes, Springfield, said bankruptcy Judge David A. Scholl gave the petitioner permission to continue operations as debtor in possession.

The filing for protection to reorganize under Chapter 11 of the U.S. bankruptcy code comes less than two months after the May 18 resignation of …