Payless ShoeSource will close all its sources in the US



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Le AP

ShoeSource Forensic is the remaining 2,100 stores in the United States and Puerto Rico, so participating in the list of famous names, such as Toys R & # 39; Us, which was closed in the last year.

The chain based in Topeka, Kansas said Friday will sell settlements to start on Sunday and reduce its e-commerce operations. All the stores are still open until the end of March and most will be open to a & # 39; May.

The full deposit seals were submitted to protect the breach of Chapter 11 in April 2017, and the closure of hundreds of shops as part of their reorganization.

At that time, More than 4,400 shops in more than 30 countries. Restructuring renovation four months later with around 3,500 stores and Deleting the debt exceeds $ 435 million.

A company said in that email the settlement does not affect your licensing works or your Latin American sources, which is still open as it is always.

An Customers are increasingly changing their online and / or online purchasing; going to give them shops like T.J. Maxx wants to store things on brand shoes. This change has injured traditional retailers, even at low prices such as Payless. Debtors also have heavy debts on barriers, leaving them less flexible for investment in their businesses.

But bankruptcies and closure of sources continue until 2019, so "there is no light at the end of the tunnel," according to a report by Coresight Research.

Prior to the release of this release, there were 2,187 reserves in the United States this year, with Gymboree and Ascena Retail, parent Lane and Bryant and other posts, which account for more than half of the total, which according to & # 39; research company. The total number of this year has risen by 23% compared to the 1,776 advertising from the previous year. So far this year, sellers have published 1,411 source openings, accounting for 65% of store doubles, he said.

Payless was founded in 1956 with two cousins, Louis and Shaol Lee Pozez, to offer self-service shops that sell accessible shoes.

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