All 2,100 Payless Shoe Stores Closing
Payless Shoes is the latest brick and mortar retail outlet to announce they are closing all of their stores. Payless will be filing bankruptcy later this month since they were unable to find a buyer for their operation.
I know that we will continue to see more and more stores close as they continue to find it impossible to compete with their online counterparts, but I assumed some of the clothing stores would be okay. Why? A couple of reasons:
- There are many people who like to try things on before they buy them.
- It is much easier to do a return or exchange at your local store.
For me, shoes are one of those things I shop locally for. With some shoes, I need an 11...some brands it's a 12, so I'd rather just go buy my shoes as opposed to involving the shipping industry. Of course, in the case of Payless, they're not only dealing with online giants, but other brick and mortar giants who not only carry many of the same brands, but also sell groceries, car batteries and pet food.
I'm not sure how quickly the closings will be happening, but I'm guessing we'll have the liquidation sale before the doors close for good.