485:(4/23/07): 'Just for Feet collapsed in 1999 amid an accounting fraud. Three former executives pleaded guilty to crimes related to a scheme to overstate earnings by $ 8 million between 1996 and 1998. The bankruptcy judge appointed a trustee to recover money for the company's creditors. The estate of Harold Ruttenberg, Just for Feet's founder and former chief executive, agreed in August 2006 to pay $ 15 million (~$ 21.8 million in 2023) along with son Don-Allen Ruttenberg to settle the trustee lawsuit. Unfortunately for the estate, six months later, a Delaware Court in the case of North American Catholic Educational Programming Foundation Inc. against three directors of the Delaware corporation, Clearwire Holdings Inc., ruled that creditors and trustees of Delaware corporations that are insolvent or in the so-called "zone of insolvency", like Just for Feet, Inc. was, have no right to assert direct claims for breach of fiduciary duty against its directors.
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These acquisitions enabled the company to become the second largest athletic footwear retailer near the end of the 20th century. One of the slogans the store used to position itself was "The World's
Largest Athletic Shoe Store". The store was also famous for their promotion of buying any 12 pair of
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The elder
Ruttenberg died in 2005 at 63. His son pleaded guilty to criminal charges and was sentenced to a 20-month prison term. Just for Feet's auditor, Deloitte & Touche agreed to pay $ 24 million, and in April 2007 five former outside directors agreed to pay $ 41.5 million – one of only 13
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over the spot, seeking $ 10 million in damages. Just For Feet alleged that they had relied on the expertise of the agency against their initial negative reactions to the spot, which ran contrary to the company's values and damaged its reputation. However, in the midst of Just For Feet's
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A large selection of clearance footwear, called the "Combat Zone" and located at the front of the store, where value-oriented customers could purchase discontinued styles of shoes, often as low as $ 9.99 or $
231:"Moonlight Madness" sales, usually conducted around Christmas, where the store would be open extended hours (usually open until 4:00 a.m.) and offer customers outstanding bargains
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by 1999. Most of the Just For Feet stores were located on outparcels adjoining major malls in cities, primarily in the
Southeast, Midwest and Southwest.
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cases in the past 25 years where outside directors of public companies have made out-of-pocket payments and one of the largest ever settlements. (
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shoes on his feet while he is unconscious. When the runner wakes up, he rejects the shoes and attempts to shake them off whilst running away.
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A complete selection of footwear styles from virtually every major athletic shoe supplier, as well as casual footwear from companies such as
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In
November 1999, Just For Feet filed for Chapter 11 bankruptcy protection, and in February 2000, the company was forced into Chapter 7.
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The ad was widely criticized by the media and advertising industry for its derogatory content; Stuart Elliot, advertising columnist for
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228:. In many cases, the concept shops also featured active wear such as shorts, T-shirts and warm-up suits from those vendors
493:'s 10 directors paid only $ 13 million). In all, the trustees recovered roughly $ 80 million for the company's creditors.
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A large bank of video monitors located near the front of the store, where customers could watch live sporting events
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shoes, and then getting one pair for free, in the process, hence the other slogan, "Where Your 13th Pair is Free!"
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A repeat customer program which enabled customers to receive a free pair of shoes after the purchase of 12 pairs
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which became one of the largest and fastest growing athletic stores in the United States. In 2000,
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Vendor concept shops, where customers could examine the complete footwear line of vendors such as
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in 1987. Several features helped to distinguish Just for Feet from its competitors, including:
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was an athletic shoe and sportswear retail store chain headquartered in
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627:"Company News; Footstar Plans to Pick up Some Assets of Just for Feet"
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Today, the company's former corporate headquarters is occupied by
603:"Former Official at Just for Feet Pleads Guilty to Fraud Charges"
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court, either inside the store or in a fenced courtyard outside.
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The first Just For Feet superstore opened adjacent to the
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acquired Just For Feet. It closed its last store in 2004.
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In-store appearances by professional athletes, including
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runner, sedating him with drug-laced water, and forcing
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An in-store fast-food snack bar featuring
Chicago-style
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Companies that filed for
Chapter 11 bankruptcy in 2004
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Companies that filed for
Chapter 11 bankruptcy in 1999
393:". Just For Feet later sued Saatchi & Saatchi for
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Companies that filed for
Chapter 7 bankruptcy in 2004
282:. Franchises were granted for stores that opened in
707:Companies that have filed for Chapter 7 bankruptcy
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521:"Just For Feet: The rise and fall of a superstar"
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174:Loud rock and dance music pumped into the store
672:Defunct retail companies of the United States
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350:. In the spot, a group of Caucasian men in a
297:In 1997, Just For Feet bought Florida-based
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737:American companies disestablished in 2004
456:Learn how and when to remove this message
136:in 1977. Just For Feet operated over 140
717:Retail companies disestablished in 2004
697:Advertising and marketing controversies
682:Clothing companies established in 1977
677:American companies established in 1977
667:Companies based in Birmingham, Alabama
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722:Defunct companies based in Alabama
354:are seen tracking down a barefoot
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579:"Ten rules to make ads magical"
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519:Taylor, Jack (2000-04-02).
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100:www.feet.com (archived)
635:. February 17, 2000.
348:Saatchi & Saatchi
280:Kansas City, Missouri
434:improve this article
276:Nashville, Tennessee
607:Wall Street Journal
301:and Michigan-based
258:Growth in the 1990s
244:Kareem Abdul-Jabbar
158:Riverchase Galleria
134:Birmingham, Alabama
111:Birmingham, Alabama
71:Birmingham, Alabama
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632:The New York Times
554:"The ad from hell"
368:The New York Times
284:San Antonio, Texas
126:Just for Feet Inc.
107:Just For Feet Inc.
17:Just for Feet Inc.
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491:Enron Corporation
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560:. 1999-05-28
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446:January 2020
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432:Please help
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379:Bob Garfield
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31:Company type
646:February 7,
395:malpractice
387:imperialist
286:, suburban
218:New Balance
146:Puerto Rico
142:U.S. states
138:superstores
661:Categories
612:2018-02-06
588:2018-02-06
564:2018-02-06
532:2015-01-21
504:References
400:bankruptcy
377:columnist
340:commercial
240:Björn Borg
200:Timberland
166:basketball
641:0362-4331
583:USA Today
334:Marketing
268:Las Vegas
319:New York
222:Converse
192:Rockport
182:hot dogs
164:A small
115:Footstar
77:Products
41:Industry
342:during
315:Norfolk
278:and in
186:popcorn
121:History
97:Website
85:Revenue
59:Defunct
51:Founded
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391:racist
356:Kenyan
352:humvee
311:Boston
272:Nevada
226:Adidas
214:Reebok
140:in 25
92:(1998)
45:Retail
558:Salon
205:19.99
648:2018
637:ISSN
360:Nike
325:and
290:and
250:and
224:and
210:Nike
196:Keds
184:and
144:and
62:2004
54:1977
436:by
266:in
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90:USD
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