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Shub dismissed by NYC Shoes SPRINGFIELD, Pa. -- The board of New York City Shoes Inc. last week fired Earl Shub as chairman and assistant secretary.
Alan Berger, who was serving as acting president, was elected chairman and president, and the firm is looking to hire "some new management that will take the firm in a healthier, more businesslike direction," Berger said.
Berger stressed that the firm has severed all ties with Shub, and there is "no financial arrangement" between Shub and New York City Shoes.
The termination of Shub comes on the heels of New York City Shoes' Chapter 11 filing in U.S. Bankruptcy Court in Philadelphia (See FN 7/13, Page 1). In the Chapter 11 filing, the company listed liabilities of $9 million against assets of $4 million.