Payless ShoeSource to close all its US stores
19/02/2019
The company began liquidation sales at its stores in the US and Puerto Rico on February 17. A spokesperson said stores would remain open until at least the end of March, with the majority not closing completely until May. The spokesperson added that these measures do not affect the company’s stores in Latin America.
Payless has more than 2,000 stores across the US. In 2017, it closed nearly 700 stores as part of a reorganisation plan that helped it emerge from chapter 11 bankruptcy protection.
Footwearbiz.com reported in January that Payless had hired an advisor to explore its options, which were believed to include a sale. There were also suggestions it would close around one-third of its stores. The reality has been much more severe.
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