Payless Shoe To Close All Stores In Liquidation
Payless ShoeSource Inc plans to close all of its approximately 2,300 stores when it files for bankruptcy later this month, as reported by Reuters.
This marks the second time in less than a year that the retailer has filed and attempted to find a buyer, with no apparent takers. Closures and liquidation activities could begin within a month in the remaining stores, including the Payless store at the Marketplace in Augusta.
This would make Payless one of the most high profile victims of bankruptcies that have fallen on to the brick-and-mortar retail sector as more, and more shopping is done online. In the past 12 months alone, major retailers like, Toys R Us and The Bon-Ton Stores are just a few among the many retailers that closed their stores in liquidations, with more expected within this year.