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when business goes badly companies must take action and sometimes that action can be drastic in 2012 the parent company of payless shoe source and keds was split in a 1.3 billion dollar buyout kedz was originally founded by u.s rubber to create sneakers or quiet shoes later u.s rubber bought a five-year-old shoe startup called sperry topsider sperry and keds were then purchased by stride wright to create the stride right corporation stride right bought saucony the maker of high-end running shoes and then stride right was purchased by discount shoe company payless this acquisition created a parent company called collective brands which went through a corporate restructuring after just five years because of miserable performance payless went to two private equity firms while the other brands were purchased by wolverine worldwide the maker of hush puppies sometimes restructuring such as the collective brands spin-off can be the consequence of failed acquisitions but it can also happen be
