End of Road For Payless Shoes
End of Road For Payless Shoes
Feb 19, 2019 | 11:00 AM
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Payless Shoes will be closing all of its 248 stores in Canada due to declining sales.
That includes Payless ShoeSource outlets in Vernon’s Village Green Shopping Centre and at Kelowna’s Orchard Park Shopping Centre, with Canadian stores expected to start shutting down by the end of March after liquidation sales.
The company, which has been around since 1956, is also closing all its U-S stores, with 2,500 outlets impacted.
It’s expected to file for creditor protection in Canada with the company saying a prior organization left the business in an “ill-equipped” condition to survive today’s retail environment with too much debt and too many stores.
