• Light/Dark
  • Ever wanted an RSS feed of all your favorite gaming news sites? Go check out our new Gaming Headlines feed! Read more about it here.

U.S. retailer Payless ShoeSource files for bankruptcy, closes ~2300 stores

Status
Not open for further replies.

ReactionShot

Member
Oct 25, 2017
505
Source: Reuters
(Reuters) - U.S. discount retailer Payless ShoeSource Inc plans to close all of its approximately 2,300 stores when it files for bankruptcy later this month for the second time in as many years, people familiar with the matter said on Thursday.

The move would make Payless one of the most high-profile victims of the string of bankruptcies that have hit the brick-and-mortar retail sector as more shopping is done online. Toys "R" Us and The Bon-Ton Stores are among the retailers that shut their stores in liquidations in the last 12 months.

Payless had been trying unsuccessfully to find a buyer. After no such deal could be clinched, the Topeka, Kansas-based company has decided to initiate preparations to liquidate, the sources said.

There is still a small chance a buyer could emerge after Payless files for bankruptcy, the sources said. In the meantime, the company is preparing to run going-out-of-business sales at its shops in the next week, one of the sources said.
Click to expand...
Click to shrink...
 

Good Kid mAAd Poster

Banned
Nov 16, 2017
892
I have not gone into a Payless in over a decade. Makes sense though since most people, rich or poor, prefer to buy name brand shoes not the ones that Payless carries.
 
Squarehard

Squarehard

Member
Oct 27, 2017
25,840
Going to have to keep an eye on the one near me, and stock up on more shoes than I can wear for the rest of my life.
 
maximumzero

maximumzero

Member
Oct 25, 2017
22,909
New Orleans, LA
I've only shopped for shoes at a local Skechers outlet store over the last five years or so not out of any sense of brand loyalty but because their shoes tend to fit me the best.

My wife shops at Payless every six months or so, she'll be bummed to hear they're going out of business.
 
Hasseigaku

Hasseigaku

Member
Oct 30, 2017
3,538
I wish I could've used Payless but my really bad overpronation meant I had no choice but to buy expensive shoes.
 
Teiresias

Teiresias

Member
Oct 27, 2017
8,211
We've got two threads about this so I guess I'll reply to this one. I mean 2300 stores is a pretty large number. In some areas they're nearly as bad as Gamestops. Around me there are three within a single 12 mile span. They were probably also being hurt by Walmart and Target and those kinds of stores. I'm surprised we never heard of them trying to lower their store footprint prior to this though (unless I missed it).

Frankly, if I'm looking for cheaper footwear I was more likely to go to a Marshalls. I'm not a big online shopper of shoes though (or clothes in general), so it will suck if I have to start buying online anytime, my feet are so finicky.
 
stumblebee

stumblebee

The Fallen
Jan 22, 2018
2,503
PAYLESS SHOE SOURCE?!?!

I always called it Payless Shoe STORE.

How have I NEVER realized that I was saying the store name wrong for as long as I've been alive?
 
Linkura

Linkura

Member
Oct 25, 2017
19,943
Holy shit

End of a fucking era

Went there a lot as a kid as my mom was a cheapass. Haven't been in one in many years. I need quality shoes for my knees and back. Perhaps they had a hand in fucking them up?
 
PHOENIXZERO

PHOENIXZERO

Member
Oct 29, 2017
12,073
Dishwalla said:
It's been going on for a while. Sears/Kmart is still at death's door, and the Shopko chain is nearly dead as well, all the stores here are closing.
Click to expand...
Click to shrink...
There's a Shopko in the main town of the county I live in that came about with the buyout/merger with Pamida, it's surprising it's still open since any time I'm near the plaza it's in there's only ever a few cars in the parking lot, not surprising hardly anyone goes there with how over priced everything is, their competition is two Dollar Generals and a Family Dollar. I figured the places were just some sort of write off.
 

see5harp

Banned
Oct 31, 2017
4,435
Good Kid mAAd Poster said:
I have not gone into a Payless in over a decade. Makes sense though since most people, rich or poor, prefer to buy name brand shoes not the ones that Payless carries.
Click to expand...
Click to shrink...

Same. I will still drive by them from time and time and I always wonder who the hell be going in these. People using snap cards and WIC cards still be rocking Jordans which boggles my fucking mind.
 
Status
Not open for further replies.