New Jersey company buying Just For Feet stores

(Birmingham, Alabama-AP) -- A New Jersey-based company will acquire 102 Just for Feet stores for 73 (m) million dollars.<br><br>Footstar Incorporated said yesterday that the purchase includes 44 superstores

Thursday, February 17th 2000, 12:00 am

By: News On 6

(Birmingham, Alabama-AP) -- A New Jersey-based company will acquire 102 Just for Feet stores for 73 (m) million dollars.

Footstar Incorporated said yesterday that the purchase includes 44 superstores in the Southeast, 19 in Texas and Oklahoma and 16
others in Western states.

The company says those 79 superstores will continue to operate as a stand-alone division, while 23 smaller stores will be converted to Footaction stores.

Just For Feet's headquarters in Birmingham also is being purchased, but the future of jobs there is uncertain.

Under the deal, the Mahwah, New Jersey, company will pay 69-point-seven (m) million dollars in cash and assume two-point-nine (m) million dollars in debt.