planetarium football star . footstar inc. type public founded 1996 headquarters mahwah new jersey u.s. number of employees 1 398 2005 website www.footstar.com footstar inc. is a former shoe retailer based in mahwah new jersey . the company was traded under the symbol ftar on the pink sheets . in april 2012 footstar was merged into xstelos holdings inc. 1 contents 1 history 2 financial difficulties 3 pharmaceutical acquisition 4 references 5 external links history edit footstar was spun off from the melville corporation in 1996 as part of that corporation s reorganization of all of its operating divisions including marshall s kb toys this end up and linens n things . after the spinoff and or sale of all of its divisions other than cvs pharmacy melville changed its name to cvs corporation and relocated its headquarters to woonsocket rhode island . footstar originally consisted of three former melville divisions family footwear retailer thom mcan athletic shoe retailer footaction usa and meldisco which operated footwear departments inside department and discount stores primarily kmart . 2 after closing down its thom mcan division footstar retained its rights to the thom mcan shoe brand . the thom mcan brand and the kmart footwear departments are now owned and operated by sears brands llc . in 2000 footstar acquired the shoe retailer just for feet which had filed for bankruptcy . 3 financial difficulties edit the company entered chapter 11 bankruptcy in march 2004 during which the just for feet chain was shut down 4 and footaction usa was sold to foot locker inc. 5 footstar emerged from bankruptcy on february 6 2006 . under a july 2005 agreement with kmart owner sears holdings footstar agreed to continue operating stores within kmart until december 31 2008 at which point footstar was to sell the remaining inventory to kmart at book value . 6 in april 2008 sears holdings agreed to obtain footstar s intellectual property as well including the thom mcan brand name . 7 pharmaceutical acquisition edit in january 2011 footstar announced that it was acquiring cpex pharmaceuticals inc. the acquisition was made through fcb i acquisition corp. a wholly owned subsidiary of fcb i holdings inc. which was owned 80.5 % by footstar corporation and 19.5 % by an unaffiliated investment holding company . 8 references edit 12 november 2013 xstelos holdings inc. third quarter 2012 report on form 10 q us securities and exchange commission retrieved 20 february 2013 footstar incorporated footstar plans to pick up some assets of just for feet the new york times february 17 . 2000 the other shoe drops at just for feet chain san diego union tribune march 31 2004 court approves sale of 353 stores to foot locker the new york times april 22 2004 footstar sears end contract dispute . bloomberg . chicago tribune . july 9 2005 . retrieved 2014 03 28 . intellectual property purchase agreement . law insider . april 3 2008 . retrieved 2014 03 28 . footstar announces agreement to acquire cpex pharmaceuticals in transaction valued at 76.6 m press release biospace january 4 2011 . footstar november 2005 monthly operating report footstar february 2006 press release yahoo footstar profile external links edit official website retrieved from https en.wikipedia.org w index.php title footstar & oldid 647214934 categories companies based in bergen county new jerseyretail companies of the united statesshoe companies of the united statescompanies that have filed for chapter 11 bankruptcymahwah new jersey navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages edit links this page was last modified on 15 february 2015 at 08 00 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view