Filed under: Retail Armageddon -Payless Closes All Stores
Just as Sears is emerging from bankruptcy, another major retailer battered by e-commerce is entering into it.
The discount shoe store will close all 2,100 of its locations in the United States and Puerto Rico in the coming months, a spokesperson told CNN Business on Friday. Liquidation sales will begin on Sunday and stores will begin closing in March, though most will say open until May. A spokeperson said its international franchises and Latin American stores will not be affected.
The closings mark the biggest by a single chain this year and nearly doubles the number of retail stores set to close in 2019.
Payless.com is no longer accepting online orders but its store locator was still working early Saturday.
Payless has been unsuccessful in its search for a buyer and is now preparing to liquidate its assets, including with a going-out-of-business sale at all its locations next week. It joins Toys “R” Us, Mattress Firm, Lowe’s and other large retailers that have shed hundreds of stores or filed for bankruptcy amid slowing sales.
The Topeka, Kansas-based discount shoe retailer had previously filed for bankruptcy protection in 2017 and closed 673 stores.
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