Home Trendy News Payless ShoeSource closing all 2,100 U.S. stores, starting liquidation sales Sunday

Payless ShoeSource closing all 2,100 U.S. stores, starting liquidation sales Sunday

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Payless ShoeSource closing all 2,100 U.S. stores, starting liquidation sales Sunday


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The discount shoe retailer Payless ShoeSource is set to close all of its stores when its files for bankruptcy later this month. Veuer’s Mercer Morrison has the story.
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Payless ShoeSource confirmed Friday that it will close its 2,100 stores in the U.S. and Puerto Rico and start liquidation sales Sunday. The company is also shuttering its e-commerce operations. 

The closings mark the biggest by a single chain this year and nearly doubles the number of retail stores set to close in 2019.

“We expect all stores to remain open until at least the end of March and the majority will remain open until May,” the company said in a statement to USA TODAY. “This process does not affect the company’s franchise operations or its Latin American stores, which remain open for business as usual.”

On Wednesday, Coresight Research released an outlook of 2019 store closures that said there was “no light at the end of the tunnel.”

Are more store closings coming: Firm forecasts ‘No light at the end of the tunnel’

Gymboree liquidation: Last day to use Gymboree and Crazy 8 gift cards is Feb. 16

Prior to the Payless announcement, 2,187 store closings had been announced in the first six weeks of the year, according to the global market research firm’s report. This represented a 23 percent increase over the same time period last year.

Those closings include 749 Gymboree stores251 Shopko stores and 94 Charlotte Russe locations

For 2018, Coresight Research tracked 5,524 closings, which included all Toys R Us stores, and hundreds of Mattress Firm stores, Kmart and Sears locations. The record year for closings was 2017, with 8,139 shuttered stores, Coresight reported.

The Topeka, Kansas-based discount shoe retailer had previously filed for bankruptcy protection in 2017 and closed 673 stores.

In a September news release, Payless said it was “the largest specialty footwear retailer in the Western Hemisphere” with more than 3,500 stores in 40 countries worldwide and nearly 18,000 employees.

Charlotte Russe bankruptcy: 94 stores are closing. Is your store on the list?

Shopko bankruptcy: More than 250 stores amid bankruptcy filing: See the full list

Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko

Read or Share this story: https://www.usatoday.com/story/money/2019/02/15/payless-shoesource-all-u-s-stores-liquidating-and-closing/2885949002/

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