What is this shelf/rack for?

Recently bought a house. This device is found in two of closets, one per closet, about 3 feet off the floor. Any idea what is it for? Thanks.
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replying to and_dr_e_sa, passerby wrote: Hmm... Insert pegs into the holes, hang, say, ties on them? But only 3 feet off the floor? Belts maybe? Either way, seems like a set of pegs is missing :)
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