As if malls needed any more bad news — what, with the closures of Sears, JCPenney and more. Now Payless ShoeSource is calling it quits.
In fact, Monday, March 11th is the LAST DAY to use Payless gift cards, so head into a store ASAP if you have one.
Payless liquidation sales began in February.
All 2,100 U.S. Payless ShoeSource stores are closing over the next several months — one of the biggest retail liquidations ever — and they’re going to be selling everything.
No idea what the sales look like, but keep tabs on Payless sales right here on KCL.
The company has filed for bankruptcy — for the second time.
The second and final time, it appears. Payless has had financial woes for years, and had last declared bankruptcy in April of 2017. It temporarily made the company’s financial picture rosier, but slumping sales continued.
Bankruptcy took effect at the end of February, which led to store closures and liquidation of assets.
Can’t say we didn’t know this was coming. . .
Canadian/Latin American locations won’t be affected.
You can still get your zapatos in Montreal or Costa Rica, cowboy.
Payless is looking for a buyer — which could keep the company alive.
via The Journal
Word on the street is that Payless is still quietly looking for a buyer, even as they continue to push forward with bankruptcy proceedings.
But who knows, even if they do close, somebody could buy the company and revive it — like Toys”R”Us is trying to do.
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