Saturday, February 16, 2019 || By Local News Curator || @maywoodnews
Featured image: Children pick out their free shoes and try them on inside the store at Payless ShoeSource on November 20, 2009 in Cincinnati, Ohio. | Joey Foley/Getty Images
Payless ShoeSource recently announced that it is closing all of the 2,100 stores that it has in the United States and Puerto Rico by May, according to multiple media reports.
There are at least three Payless ShoeSource stores in, or near, Proviso Township, including at Cermak Plaza Shopping Center, 2210 S. Harlem Ave. in Berwyn; North Riverside Park Mall, 7501 W. Cermak Rd. in North Riverside; and Winston Plaza, 1234 Winston Plaza in Melrose Park.
The Payless at 102 Broadview Village Square in Broadview closed in 2017, when the national retail chain based in Topeka, Kan., announced that it would close at least 400 stores that year during a second round of store closures.
A month prior to announcing the second-round closures, the chain filed for bankruptcy protection, closing up to 400 stores during the filing.
According to the Chicago Tribune, Payless officials said “Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All of the stores will remain open until at least the end of March and the majority will remain open until May.”
The Tribune reports that Payless, which was founded in 1956, lists 18,000 employees around the world.
“Shoppers are increasingly shifting their buying online or heading to discount stores like T.J. Maxx to grab deals on name-brand shoes,” the Tribune reports. “That shift has hurt traditional retailers, even low-price outlets like Payless. Heavy debt loads have also handcuffed retailers, leaving them less flexible to invest in their businesses.”
Read the full Tribune article here. VFP
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