Edison Brothers Stores Inc – ‘8-K’ for 5/28/99 – EX-99.5

On:  Friday, 5/28/99   ·   For:  5/28/99   ·   Accession #:  950124-99-3548   ·   File #:  1-01394

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         3     14K 
 2: EX-99.1     Operating Report                                      10     42K 
 3: EX-99.2     Press Release Dated April 22, 1999                     2      8K 
 4: EX-99.3     Press Release Dated May 17, 1999                       2      8K 
 5: EX-99.4     Press Release Dated May 20, 1999                       1      7K 
 6: EX-99.5     Press Release Dated May 27, 1999                       1      7K 

EX-99.5   —   Press Release Dated May 27, 1999

EX-99.5
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                                                                    EXHIBIT 99.5

FOR IMMEDIATE RELEASE                              CONTACT: TOM GOYDA, SHANDWICK
                                                                    314-552-6724

EDISON TO SELL PUERTO RICO FOOTWEAR OPERATIONS

COMPANY ENLISTS REALTY FIRM TO DISPOSE OF REMAINING LEASES

ST. LOUIS, May 27, 1999 -- Edison Brothers Stores, which filed for Chapter 11   
bankruptcy protection on March 9, announced today that it has signed an         
agreement to sell its footwear operations in Puerto Rico to Novus, Inc. for $7.2
million. The planned sale of the Puerto Rico stores means that Edison has now   
reached agreements to sell most of its retail operations and liquidate its      
remaining chains.                                                               
       The agreement with Novus involves the sale of 17 Bakers and nine Wild
Pair locations in Puerto Rico, as well as the inventory in those stores. Novus  
currently operates 32 footwear stores in Puerto Rico, including 11 under the    
Novus name and the rest under eight different divisions. Subject to bankruptcy  
court approval, Edison expects the sale to Novus will be finalized in June.     
Edison has also filed for court approval to retain Keen Realty
Consultants Inc. to coordinate the sale of lease rights that Edison holds on    
approximately 500 retail locations that the company does not expect to sell to  
buyers of its chains. The leases include stores in all of Edison's chains, but  
the majority of the locations involved are currently occupied by Riggings and   
Wild Pair stores, both of which are now liquidating.                            
      The bankruptcy court has approved the sale of Edison's Repp Ltd. big
and tall menswear stores and Repp-by-Mail catalog division to J. Baker, and is  
expected to rule in June on agreements for the sale of most of its Bakers,      
5-7-9, JW/Jeans West and Coda chains to various buyers. Gruppo Levey handled the
Repp sale, while Houlihan Lokey Howard and Zukin managed the sales of the other 
chains.                                                                         
    Edison Brothers Stores Inc. operates Bakers and Wild Pair footwear
stores; 5-7-9 junior apparel stores; Riggings, JW, Coda and Repp Ltd. Big & Tall
menswear stores; and Repp By Mail men's catalog. The company has nearly 1,500   
stores in the United States, Canada, Puerto Rico and the Virgin Islands.        

 # # #

Dates Referenced Herein

This ‘8-K’ Filing		Date		Other Filings
		6/1/99		None on these Dates
Filed on / For Period End:		5/28/99
		5/27/99
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