Sherson Group files for bankruptcy protection
TORONTO — Shoe distributor Sherson Group Inc., which operates Nine West retail stores in Canada, has filed for bankruptcy protection with the Ontario Superior Court. Court documents say the Toronto-based company owes $32.2 million to more than 60 different suppliers, lenders and other businesses. Included on the list is $4.7 million owed to the Bank of Montreal for certain loans and $19.1 million to Nine West Group Inc., the New York-based company which licences its name to Sherson Group. The documents also say BDC Capital, a subsidiary of the Business Development Bank of Canada, is owed $3 million.