Payless ShoeSource, a once popular seller of cheap women's shoes and a staple in many suburban customers, closes all of its American stores.
The company said Saturday it would begin to liquidate all 2,100 of its stores in the US and Puerto Rico. Payless also reduces its online business.
The dealer, who was filed in bankruptcy two years ago, had already closed hundreds of stores in recent years, as the brand lost shine among women who searched for offers on shoes. It is the latest mass market dealer that disappears from the retail.
The liquidation of Payless, based in Topeka, Kan., Is another example of how bankruptcy has helped dealers throw their debts, but it has not helped many of
The profitable liquidation comes as more people choose to shop online rather than in stores, which was the core of the shoe company strategy. But e-commerce only explains part of Payless's challenges. While Payless is struggling to be relevant to customers, other retailers who have food to negotiate with conscious shoppers such as TJ Maxx and Nordstrom Rack are thriving.
Maintaining emerging fashion trends and creating attractive stores requires constant investment, which was a challenge for Payless. Some of the company's stores have also been damaged by their location in the struggle with suburban complexes, which is rooted in Sears and J. C. Penney, another list dealer. As hundreds of these anchor stores are closed, traffic to nearby retailers in shopping malls has been reduced.
A pronounced spokeswoman said that liquidation sales would start on Sunday, and that the stores would remain open through the end of March, with many open until May.