The reorganization plan of the Walking Company was approved in a bankruptcy court in California, allowing the American chain of comfort shoe shops to emerge from Chapter 11 bankruptcy proceedings. It will get to keep 207 of its 210 stores, while paying all its debts and future obligations to trade creditors. The Walking Company had originally planned to close about 90 of its stores, but managed to negotiate new lease agreements with landlords that will save it about $3 million a year. In addition, it negotiated with banks, vendors and shareholders to rework its balance sheet and financial obligations.