Shoes For Crews Names New CEO to Lead the Company’s Next Steps
After emerging from Chapter 11 bankruptcy earlier this year, Shoes For Crews has appointed Chris Quinn to serve as its new CEO.
The slip resistant footwear company said Thursday that Quinn would take over the top role in January as Donald Watros retires, but remains with the company in an advisory role. Quinn has served as a board member of the company since October, and previously held roles at New Balance, Mars and Folgers, according to his LinkedIn. Most recently, he served as CEO of iDesign, a global houseware company.
“Entering the new year with our talented new board, we’ll continue to innovate in the slip-resistant and safety footwear space,” Quinn said in a statement. “Over the company’s first 40 years we’ve really fine-tuned our purposeful design and proprietary technology and I’m looking forward to continue to lead the industry in groundbreaking solutions for a wide range of use cases, from inside the kitchen to out in the field”.
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The leadership transition comes just months after Shoes For Crews underwent a sale of its assets to first lien secured lenders via a stalking horse credit bid, thus emerging from Chapter 11 bankruptcy and eliminating more than $300 million of debt. Under the deal, a group of top-tier global investment firms — who had previously invested in the company — became the owners of Shoes For Crews and its international entities.
Shoes for Crews, which owns proprietary brands like Shoes For Crews, Ace Work Boots, Mozo and Lila, faced challenges during the Covid-19 pandemic when demand for safety footwear declined during lockdowns. As such, the company took on debt and then struggled when interest rates soared.
Watros told FN in a July interview that the transaction would put the company in a better position to expand into new product categories and markets as well as explore potential acquisition targets in the long term. Looking ahead, Watros said Shoes for Crews would invest in business development opportunities by identifying and onboarding new customers and would aim to carry out an expansion in the European market and in the industrial footwear category.
“During my tenure we have accomplished incredible things at Shoes For Crews,” Watros said in a statement. “From a long list of technology innovations to completely restructuring the business, we have logged a great number of successes. I’m looking forward to handing the baton onto my trusted successor, Chris, who will no doubt stack on more wins onto our growing list.”
In addition to its own brands, Shoes For Crews also partners with footwear brands that employ its slip-resistant outsole technology, such as New Balance, Dockers, Dansko, DeWalt, Cole Haan, Puma and Carolina Boots. Recently, the Shoes for Crews has launched new outsole technology that works in year-round environments such as oil, water and ice.
