After filing for their second bankruptcy, Payless will begin to close their U.S. and Puerto Rico stores. The budget sho retailer will liquidate its inventory from all 2,100 of its U.S. stores. The company also plans to wind down its online business.
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Like many other companies, Payless is suffering from consumers electing to buy online rather than physical retail stores. I also believe Payless has failed to keep up with modern fashion trends. Consumers just have way too many options for budget shoes with other retailers.
The Payless stores will possibly remain open until May 2019. The liquidation sale will be active as soon as February 17, 2019.
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