Greenwich, CT-based Sandy Point develops and manufactures work boots and shoes. Under the terms of the agreement, the company will acquire the inventory, fixed assets, intellectual property and certain other rights relating to the Work 'n Gear business. Sandy Point has agreed to offer employment to all retail field employees and to at least 70% of the headquarters employees of the business. Casual Male has agreed to provide transition services to Sandy Point for up to six months following the closing of the transaction. Additional details about the agreement were not disclosed.

According to a released statement Casual Male expects to use the net proceeds from the transaction for the repayment of debt. In the statement, Alan I. Weinstein, chairman and CEO of Casual Male, says, "The divestiture of Work 'n Gear is an important part of Casual Male Corp.'s ongoing effort to restructure its business under Chapter 11. The consummation of this transaction will allow us to devote our full focus to strengthening the national leadership position of our big and tall businesses."

Casual Male filed for bankruptcy court protection last May and continues to operate 470 retail stores.