Heelys has announced a special meeting related to the sale of its assets, a plan of liquidation and dissolution and related matters. Reuters reported in October that the maker of children’s sneakers with wheels in them, was selling itself to Evergreen Group Ventures. Evergreen Group Ventures has informed the company that it plans to continue producing, distributing and marketing shoes under the Heelys brand name after completion of the sale.
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Heelys Inc, the maker of children’s sneakers with wheels in them, is selling itself to a private equity firm, Evergreen Group Ventures, after suffering years of fading sales and a sliding share price. The value of Heelys, once worth more than $1 billion as children flocked to its shoes, had faded to a market value of just over $50 million at Monday’s close on the Nasdaq, Thomson Reuters data showed.