Payless to close all U.S. stores

Andrew Cummings
February 19, 2019

Locations outside the United States will not be affected by the closures.

Online shopping has challenged many retailers, but analysts say Payless struggled to stay relevant with shoppers while other retailers like TJ Maxx and Nordstrom Rack focused on bargain shoppers.

Liquidation sales are underway at Payless Shoe Source.

Payless ShoeSource filed for Chapter 11 bankruptcy in April 2017 and closed hundreds of stores as it attempted reorganize and shed debt. It emerged with fewer stores, its debt cut in half and creditors owning the company.

But that wasn't enough to keep it afloat in an time of continuing challenges that have seen the closing of retailers such as Toys R Us, Sears and Shopko.

The Topeka, Kan.,-based company has more than 3,600 stores worldwide. That's what happened with Gymboree and RadioShack.

Payless is just the latest brick and mortar retailer to fall victim to bankruptcy.

There is a Payless inside the Clearview Mall in Center Township. "Without bold action, the retail landscape will continue to be scattered with bankruptcies".

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