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Footstar Inc. Bankruptcy

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...such as those you requested. Those calculation that were accessible in research are included. Those that were not accessible, such as WACC, are not included. Each of the ratios you requested is explained.]

III. Body
a. Introduction
i. Background
Footstar Inc., headquartered in Mahwah, New Jersey, is a discount footwear company (Cornell, 2004). Through its Meldisco division, the company "operates leased footwear departments" (Cornell, 2004) in almost 6,000 stores in the U.S.luding Wal-Mart and K-Mart (Cornell, 2004; NYSSCPA.org News Staff, 2004). In March 2004, Footstar and its subsidiaries filed Chapter 11 bankruptcy (NYSSCPA.org News Staff, 2004). Accounting discrepancies were discovered for the Fall 2003 reports and, in fact, discrepancies were found in earlier reports (NYSSCPA.org News Staff, 2004). Carr reported: "Footstar [is] unable to produce audited results for more than two years" (2004, p. 14).
Their last quarter reported was September 2002 (Money Central, 2004). The company is restating financial results for the years of 1997 through 2002, estimated earnings were dropped by $29 million (NYSSCPA.org News...

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