---
schema_version: "secwatch.filing_event.v1"
accession: "0000110471-22-000086"
form_type: "8-K"
ticker: "WWW"
cik: "0000110471"
company_name: "WOLVERINE WORLD WIDE INC /DE/"
filed_at: "2022-12-08T23:59:59+00:00"
generated_at: "2026-06-21T07:16:29.127134+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Wolverine World Wide to explore divestiture or licensing of Keds and Wolverine Leathers; targets $65M in cost savings

## Summary
- Formal process to divest or license low-profit Keds brand and Wolverine Leathers business announced.
- Workforce reduction initiated; expects $30M in savings from that, plus $20M from supply chain, $45M from org synergies (total ~$65M in 2023).
- New $175M receivables securitization closed Dec 7 to accelerate cash flow and reduce debt.
- Revenue through two months of Q4 in line with expectations; full update at ICR Conference on Jan 10, 2023.

## SEC filing metadata
- accession: 0000110471-22-000086
- form_type: 8-K
- ticker: WWW
- cik: 0000110471
- company_name: WOLVERINE WORLD WIDE INC /DE/
- filed_at: 2022-12-08T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/110471/000011047122000086/0000110471-22-000086-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/110471/000011047122000086/www-20221207.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000110471-22-000086
- JSON: https://secwatch.observer/filing/0000110471-22-000086.json
- Plain text: https://secwatch.observer/filing/0000110471-22-000086.txt

## Key facts
- Material Agreements
  WOLVERINE WORLD WIDE INC /DE/ entered into Receivables Facility with Rockford ARS, LLC and Wells Fargo Bank, N.A. valued at $175 million (effective 2022-12-07).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Rockford ARS, LLC and Wells Fargo Bank, N.A.
  - Value: $175 million
  - Effective: 2022-12-07
  source text: On December 7, 2022 Saucony, Inc., Wolverine Outdoors, Inc. and Wolverine World Wide Canada ULC (collectively, the “Sellers”) entered into a receivables facility of $175 million (the “Receivables Facility”), under which the Sellers will sell receivables to Rockford ARS, LLC, a Delaware limited liability company (the “Buyer”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/110471/000011047122000086/0000110471-22-000086-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.