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Web in early february, footwear news reported that shoes.com had declared bankruptcy, with debts serious enough to raise questions about whether all its creditors, including customers with. In december 2016, jet.com (a subsidiary of walmart) completed the acquisition of shoebuy from iac. Web since abruptly announcing that it would shutter options jan. Another one bites the dust. The website was established in boston during 1999. Web shoes.com (previously known as shoebuy.com) is an american footwear retailer. In 2006, the company was acquired by iac. January 30, 2017 11:24 am.