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Discussion Boards => Off-Topic => Topic started by: cadence4u on February 16, 2019, 11:13:09 am
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Payless ShoeSource to shutter all of its remaining 2,100 US stores but plans to still keep its 1,400 in Latin America open:
* The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations
* All of the stores will remain open until at least the end of March and the majority will remain open until May
* The company said in an email that the liquidation doesn't affect its franchise operations or its Latin American stores, which remain open for business as usual
* It lists 18,000 employees worldwide
Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have closed down in the last year.
The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All of the stores will remain open until at least the end of March and the majority will remain open until May.
The debt-burdened chain filed for Chapter 11 bankruptcy protection in April 2017, closing hundreds of stores as part of its reorganization.
At the time, it had over 4,400 stores in more than 30 countries. It remerged from restructuring four months later with about 3,500 stores and eliminated more than $435 million in debt.
The company said in an email that the liquidation doesn't affect its franchise operations or its Latin American stores, which remain open for business as usual. It lists 18,000 employees worldwide.
Shoppers are increasingly shifting their buying online or heading to discount stores like T.J. Maxx to grab deals on name-brand shoes. That shift has hurt traditional retailers, even low-price outlets like Payless. Heavy debt loads have also handcuffed retailers, leaving them less flexible to invest in their businesses.
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.
Before this announcement, there have been 2,187 U.S. store closing announcements this year, with Gymboree and Ascena Retail, the parent of Lane Bryant and other brands, accounting for more than half the total, according to the research firm. This year's total is up 23 percent from the 1,776 announcements a year ago. Year-to-date, retailers have announced 1,411 store openings, offsetting 65 percent of store closures, it said.
Payless was founded in 1956 by two cousins, Louis and Shaol Lee Pozez, to offer self-service stores selling affordable footwear.
https://www.dailymail.co.uk/news/article-6711013/Payless-ShoeSource-shutter-remaining-US-stores.html
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Did not read your super long post. But I heard they were closing their stores while I was in town this morning. I also heard something about they were going to sell online. Even Walmart is moving to just selling most stuff online.
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Wow.... too bad, but these stores need to change their business models to keep up with Amazon & other online sources. I never really shopped at Payless Shoes, but I had a friend who used to take advantage of all their BOGO sales for her & her kids.
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That's a shame. Maybe they weren't always the best quality but I did like them.
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I shopped at Payless. I do care if I have high prices footwear. It just needs to be comfortable.
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I sure hated to hear that they were closing. I used to buy so many shoes there. I was a manager at Payless at the time so I saw all the new styles first and grabbed them up, and I always loved the shoes. We went there today to get some deals but it was just buy one get one 50% off.
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I was never one who shopped Pay Less shoes. However, I am sad that all these employees will be out of a job. I have a friend of mine whose teen daughter works for them. Hopefully she can find her another part time job.
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There is not one in my town. Not sure how close the nearest one is. Not close enough to just drop by to see what their sales are. If you give less than $20 for a pair of tennis shoes and they last a year I guess you are doing good. I got a pair of Avia at Walmart and they were falling apart in less than 6 months. I gave about $17 for them so what can you expect?
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I was never one who shopped Pay Less shoes. However, I am sad that all these employees will be out of a job. I have a friend of mine whose teen daughter works for them. Hopefully she can find her another part time job.
Part time retail jobs are a dime a dozen pretty much any where.
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Wow...another store going under...a sign of the times I guess
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I heard they were going out of business. I used to get shoes from there but haven't lately.
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We have one in our local mall, I am sure they will be having sales soon. This online shopping shopping is doing in so many stores; while I did not shop there much; whenever I did I could generally find a comfortable shoe at a price that I could afford. Feel sorry for all of their employees.
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Did not read your super long post. But I heard they were closing their stores while I was in town this morning. I also heard something about they were going to sell online. Even Walmart is moving to just selling most stuff online.
I don't shop there very often for my shoes, but I cannot imagine many shoe stores that I would shop at online. Some clothes, you just NEED to try them on for fit and feel before buying them. With shoes - that is a must as far as I am concerned.
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Did not read your super long post. But I heard they were closing their stores while I was in town this morning. I also heard something about they were going to sell online. Even Walmart is moving to just selling most stuff online.
I don't shop there very often for my shoes, but I cannot imagine many shoe stores that I would shop at online. Some clothes, you just NEED to try them on for fit and feel before buying them. With shoes - that is a must as far as I am concerned.
Well I ordered a pair of tennis shoes I knew the size I needed for the exact style and brand I was buying. I got them from Amazon. The shoe had no size in it but the box had my shoe size on it. The shoe was at least an inch too long for my foot. Since then tee shirts are about all I will order online. They did give me a refund and free return shipping.
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I haven't heard that they were closing but I never really shopped there
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I haven't shopped there in a long time so it won't be a concern for me
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I rarely shop at Payless Shoe Source. I used to years ago but the quality of shoes for the price wasn't worth it.
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It is said that all these stores are closing, but I feel they bring it on themselves. I remember shopping at payless when I was younger and their things being affordable, but their things are overpriced now. I am not going to spend 30, 40 dollars on shoes when I can go to Ross or Burlington and get name brand shoes for 20 dollars.
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That is too bad although I never went in recent years to Payless in years past I bought a lot of shoes from the Payless in our town.
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Wow...another store going under...a sign of the times I guess
What does that even mean? I dated a guy once that his response to everything was "sign of the times". That does not even make sense.
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It is said that all these stores are closing, but I feel they bring it on themselves. I remember shopping at payless when I was younger and their things being affordable, but their things are overpriced now. I am not going to spend 30, 40 dollars on shoes when I can go to Ross or Burlington and get name brand shoes for 20 dollars.
They charge what they have to in order to be able to stay afloat. Yes that is why a lot of smaller stores are closing. By the time they pay all the over head they are losing money. And big box stores can undersale them.
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Wow all this written for 10 cents :o imagine if you had an actual job writing. 8)
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Nooooo. I am a big Payless shopper. Too bad. :sad1:
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Darn, this is the shoe store closest to me and with most reasonable prices. I'll have to be sure to go there one more time before they disappear. Buying online may be easy but with clothing and shoes you really have to try it on in person.
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I hate to hear about payless. That's where I buy my shoes.
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to bad like payless especially for kids shoes. also when you want just shoes don't have to walk although Walmart or target.
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i like the deals every once in awhile but didnt kno wuntil reading this post that it was store in the usa
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Is there not a rule against cutting and pasting news articles? Even the subject title was copied. Eight track cartridges, cassettes, Sony walkman's and brick mortar, retail, stores are a thing of the past. Sears, Kmart, and FAO Schwartz were pioneers in the wave of decline. Toys R Us has a slight pulse only because a major shareholder (and board member) is also a creditor that stands to lose, big time, if debt is not paid down. Carrying Stock,higher local tax rates, paying rent and employee cost make physical retail locations inefficient in comparison to on line shopping. Big Box stores (like Walmart, Costco and Sams), like internet shopping venues, provide convenience and lower product pricing. I think that grocery stores will survive due to the need for fresh produce -people tend to not trust other people pickingtheir food for delivery or pick up.
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What does that even mean? I dated a guy once that his response to everything was "sign of the times". That does not even make sense.
Only time it makes sense is if you're driving past one of those digital billboards or bank signs that has a digital clock built into the display.
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:( that's to bad. I've got shoes there before, and my son has gotten work shoes.
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Payless is great. I am disappointed they are closing.
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So sorry to hear this. I have bought many a shoe there :(
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Wow all this written for 10 cents :o imagine if you had an actual job writing. 8)
Copy and pasting isn't writing.
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Used to shop at Payless shoe store to buy shoes there. Sad to here they are closing.
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:heart: :in-love: :kiss: :heart: I heard about this the other day. Sad that they would be closing. I used to shop at this store when I was younger, only to find that now days they don't have the shoes that I'm looking for. Which I'm unsure why ??? :heart: :in-love: :kiss: :heart:
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Most stores are to big and they fail to embrace the future and rather be stuck in what got them to the dance instead of what could take them through the future thats why they fail like payless has and so many others
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I always wondered why the prices were so high and it was called payless. Their shoes didn't fit my feet well at all, but I have bought boots there and flip flops. Kinda surprised they're closing.
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Another one bites the dust. It's hard for stores to stay open anymore.
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I didn't shop there often just every now and then.
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I honestly preferred Payless to DSW. They were more reasonable in their prices. I guess everyone just shops online now but for me, I can't. I have a wide foot and I never know even in the wide sizes which shoe is right. I usually do an 8 medium/normal in a womens because the width is right but even then I've found some are not. I still need a physical store for shoes and with so many closing, it's becoming harder to shop for anything.
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Amazon is killing tons of stores
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I was in one a couple of times, but their stuff didn't really fit and was pretty high priced for the quality.
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I they actually sold shoes for less, maybe they'd stay in business.
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Walmart and Amazon are squeezing everyone out of the competition, wow.
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Yes, Amazon is killing online & many other business!
But, Sales for in the stores are killing business - like Toy R US, Linen N Things, Mervyn's, Kmart, Sears & etc.
I like to shop in the stores than shop online! In stores get revenue of sales & the city!
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What a shame. :( I'm going to really miss Payless.