Retailer Payless ShoeSource set to shutter its U.S. stores: sources

[Eugene]

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.

-snip-

BUSINESS NEWS FEBRUARY 14, 2019 / 4:16 PM / UPDATED 30 MINUTES AGO
Jessica DiNapoli, Harry Brumpton
2 MIN READ


Read more: https://www.reuters.com/article/us-paylessshoesource-bankruptcy-stores/retailer-payless-shoesource-set-to-shutter-its-u-s-stores-sources-idUSKCN1Q32VM

[cstanleytech]

1. Not surprised that they could not find a buyer after all the online competition can pretty much

undercut stores like Payless and they do not have to pay the cost to maintain multiple stores.

[Ohiogal]

5. I can never understand

how anyone can buy shoes on line.

Shoes are something you HAVE to try on, IMO. Unless it's a brand and size you already own and are just replacing.

[genxlib]

8. You nailed it

I have a known quantity in sneakers, black and brown dress shoes. Order them over and over again when they wear out.

The joys of being a man without fashion sense.

[Ohiogal]

12. My husband does the same thing....

But he's retired ..... all he ever wears are the same brand of athletic shoe, which he stocks up on and buys on Ebay.

[area51]

9. +1 n/t

[cstanleytech]

11. Same here however its clearly working as online sales are pretty robust.

[JI7]

16. they allow easy returns so people buy a bunch with intention to return

some after trying them on.

[politicaljunkie41910]

23. Wouldn't trying them on be reasonable before buying them. After all you want to make sure they fit.

It's not like people who buy something, use it for its intended purpose and return it because they never had any intention of keeping it.

[Corgigal]

20. Zappos

Next day shipping, free returns and great customer service.

Bought my son in law, and my son their hiking boots. One fit perfect, the other didn't. Fixed quickly and no hassle.

I will think Payless was great for cheap, no fuss shoes.

[greymattermom]

28. My daughter has narrow feet

so she has no choice. Most stores only carry medium width shoes. Zappos has almost all of her business.

[TexasBushwhacker]

22. They get a lot of competition from Walmart and Target too

Not to mention places like TJ Maxx, DSW and Ross that sell name brands at a discount.

[msongs]

2. aka cheating creditors and employees nt

[LisaM]

3. That's too bad.

One of the few places that carries wide-sized shoes.

[riversedge]

4. I will not buy shoes without trying them on. And I do shop payless--wide width is for

me with some brands.

[LisaM]

10. Yes, and at the store in downtown Seattle, I see lower-income people shopping there.

Last edited Thu Feb 14, 2019, 07:48 PM - Edit history (1)

We do have a Target, but their shoes are frankly not as good as the ones at Payless! I got some sandals there once that lasted about ten years.

[gay texan]

13. This sucks

They had some cute stuff on occasion

[BumRushDaShow]

6. Wow.

That's mostly what I have around where I live.

It's always been so hard buying shoes in retail stores because they often don't have the right size and/or the right color (or even the type of shoe I would want) in stock and you just throw up your hands and buy online. In the case of Payless, they do have an online presence but then people will just have it ship directly, negating the need for a retail outlet. But then for those who like the whole store experience - and mostly to really try something on to gauge the size and how it looks and feels - closing stores becomes a nuisance. At that point ordering online and getting the wrong size/fit/look means going out anyway to return it (either by shipping it back or by going to the nearest store).

[demmiblue]

7. Shoot, it was a good place to find shoes not made of leather. n/t

[Codeine]

19. That's why I've shopped there for thirty years.

I just bought some Champion running shoes with a mesh upper there last week. I guess I’ll have to stock up a bit.

[NurseJackie]

14. Buying shoes online? Not me! I must try them on!

Buying shoes online? Not me! I must try them on!

Costco for seasonal wear casual shoes or walking shoes. I also enjoy shopping for shoes at DSW. Also, Target has decent shoes (even if it's a smaller selection).

The Payless shoe stores always seems a bit claustrophobic, cramped and disorganized (our local one does anyway) I don't know if it's like that everywhere, or if it's just our local store.

But if Payless had trouble attracting and keeping customers, that's probably one of the reasons why.

[LisaM]

18. I have to try them on, too.

My feet are on the small side, but I have high arches and they are wide. AND, suddenly, shoe sizes seem to have changed. Almost all shoes now only come in a medium width, but all of a sudden, I've had to go up a size even for good shoes, so I think there has recently been some subtle size changing (I mean, my feet could have gotten a little bigger, but my sister had the same problem recently).

[Raine]

24. I have the same problem

small feet but very wide, I have a terrible time finding shoes.

[Codeine]

25. Weird. I had to switch to wide sizes as well.

And honestly, my feet don’t seem all that wide for a guy.

[LisaM]

26. They're probably not.

They're just making shoes narrower, and there are not as many sizing options, so people just need to go to bigger sizes to get shoes that fit.

[Owl]

15. Dang. I like their stores.

[moose65]

17. Well, I don't have any particular love for Payless, but...

I don’t know about y’all, but sometimes going out to stores is just something I like to do! I like to walk through and look at all the stuff and see what’s new, etc. I used to love Rockport shoes, but they have closed all of their outlet stores and have moved to totally online. Somehow it’s just not the same! I like to try shoes on and walk around in them! Am I hopelessly old fashioned? I’m only 53 years old! I shop online too, but not for everything. Sometimes I don’t want to sit at home - I want to go out and look around! 😆

[Yo_Mama_Been_Loggin]

21. Meh

The few times I went to Payless shoes I was rather unimpressed with the quality of their product.

[LuvNewcastle]

29. Me too.

I didn't even know they were still around; I'm kind of surprised they lasted this long. I never wanted ugly plastic shoes, so they don't seem like much of a loss. Sorry for the people who are losing their jobs, though.

[MuseRider]

27. Awww too bad.

I went to school with the kids of the families that started this store here in Topeka. So many things we have lived with all our lives that are going away. Times are a changing.