Payless ShoeSource, at one time a giant in the industry as a source of discount shoes, will be closing all of its stores in the US and has begun a massive liquidation sale, which means the time to save is ASAP.
Payless announced it is beginning the process of liquidation and the closure of all of its 2,100 stores in the US.
The discount shoe chain was once ubiquitous with being a source of affordable reproductions of popular shoe styles for the entire family.
Now, with comparable pricing from online stores such as Amazon-owned Zappos, and Amazon itself, as well as, other Internet stores and big-box stores such as Target and Walmart, Payless has found itself unable to compete.
Payless began its liquidation sales on Sunday, which means the time to score the best deals or use any merchandise credits you have is now.
Payless stores in the US will begin closing in March, but most are slated to remain open until May. However, store shuttering could vary by location, as there has been reports of some stores already announcing closures.
Another retailer losing to Internet competition
Payless is another in a string of longtime popular retailers shuttering their stores under fierce Internet competition.
In June of last year, iconic toy store Toys “R” Us shut down after 70 years as an American institution.
Late last year, one of America’s longest operating retailers, Sears Holdings Inc., which owns both Sears and Kmart stores, nearly shut down, and is still in the midst of trying to restructure its operations and survive under new ownership.
And while Payless, which is been in business since 1956, is closing all of its US stores, it’s stores in Latin America will remain open.