leases of over 70 of its stores in February 2000. Those stores that remained opened continued to do business under the Just For Feet name until Footstar itself filed for Chapter 11 protection in 2004. That same year, the last of the Just For Feet stores closed. According to The Wall Street Journal (4/23/07): 'Just for Feet collapsed in 1999 amid an accounting fraud. Three former executives pleaded guilty to crimes related to a scheme to overstate earnings by $8 million between 1996 and 1998. The bankruptcy judge appointed a trustee to recover money for the company's creditors. The estate of Harold Ruttenberg, Just for Feet's founder and former chief executive, agreed in August 2006 to pay $15 million along with son Don-Allen Ruttenberg to settle the trustee lawsuit. Unfortunately for the estate, six months later, a Delaware Court in the case of North American Catholic Educational Programming Foundation Inc. against three directors of the Delaware corporation, Clearwire Holdings Inc., ruled that creditors and trustees of Delaware corporations that are insolvent or in the so-called "zone of insolvency", like Just for Feet, Inc. was, have no right to assert direct claims for breach of fiduciary duty against its directors. The elder Ruttenberg died in 2005 at 63. His son pleaded guilty to criminal charges and was sentenced to a 20-month prison term. Just for Feet's auditor, Deloitte & Touche agreed to pay $24 million, and in April 2007 five former outside directors agreed to pay $41.5 million – one of only 13 cases in the past 25 years where outside directors of public companies have made out-of-pocket payments and one of the largest ever settlements. (Enron Corporation's 10 directors paid only $13 million). In all, the trustees recovered roughly $80 million for the company's creditors. Today, the company's former corporate headquarters is occupied by Jack Henry & Associates. References Companies based in Birmingham, Alabama Defunct retail companies of the United States American companies established in 1977 Clothing companies established in 1977 Companies that filed for Chapter 11 bankruptcy in 1999 Companies that filed for Chapter 11 bankruptcy in 2004 Companies that have filed for Chapter 7 bankruptcy Retail companies established in 1977 Retail companies disestablished in 2004 Defunct companies based in Alabama 1977 establishments in Alabama 2004 disestablishments in Alabama American companies disestablished in 2004