Payless Shoe Stores Liquidating in 2019

Feb 19, 2019, 00:55
Payless Shoe Stores Liquidating in 2019

In the meantime, Payless is preparing to run going-out-of-business sales at its locations next week.

Payless' online retail operations are already closed, though customers can still use the website's store locator app.

The Payless bankruptcy from 2017 resulted in the company shuttering the doors of more than 500 "underperforming" locations in the USA and Puerto Rico.

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According to the company, Payless employs more than 18,000 associates and has 3,600 stores worldwide.

Payless filed for bankruptcy in early 2017, closing stores and restructuring debt, but it wasn't enough. "This process does not affect the Company's franchise operations or its Latin American stores, which remain open for business as usual".

University of Arizona researcher Sabrina Helm found that most consumers would be concerned about the social implications of abandoning physical stores. That shift has hurt traditional retailers, even low-price outlets like Payless.

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But bankruptcies and store closures will continue through 2019 so there's "no light at the end of the tunnel", according to a report by Coresight Research.

About 1,200 retail stores outside the USA are not affected. So far, no firm closing dates have been announced.

The company was founded in 1956 in Topeka.

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