Payless officially files for bankruptcy, winds down North American biz

Payless Shoesource

Payless Shoesource

"While Payless' North American stores have faced difficulty, due to a challenging retail environment, our thriving businesses in Latin America and the Caribbean have considerable profitable growth potential and remain an integral part of our long-term strategy", Zarazua continued.

Four Payless ShoeSource locations can be found in Victoria, one at the Hillside Shopping Centre, one at the Mayfair Shopping Centre, one at The Bay Centre, and one at the Tillicum Shopping Centre. The outlets will begin closing in March as stock is sold off, with the process expected to be complete by the end of May.

Despite the shuttering of its operation in North America, the company stressed that its stores in Latin America, as well as its global locations, will continue to operate business as usual in every respect. "As we wind them down, we will be conducting liquidation sales".

Winegard suspects discount footwear sellers including Walmart Inc., manufacturers with large online presences and e-commerce brands like Amazon Inc. and Asian-based e-commerce giant Alibaba Group Holding Limited. will benefit from Payless's demise.

However, all sales are now final, so if you bought something at Payless recently and want to return it, you're out of luck. At the time, it had over 4,400 stores in more than 30 countries. "The big discount and big box stores have margins that are razor thin finding it very hard to compete with online retailers".

Harry Kane could face Burnley after ankle injury
Kane has scored 14 goals in 22 Premier League games this season, with a further four more in the Champions League. However, he is back in training and is in contention to play against Burnley in the Premier League this weekend.

Intercity Shopping Centre is losing another long-time tenant.

Payless said the new online playing field left the company unable to continue with its current business model.

In a move that it said results from its inability to operate as a sustainable business following a recent restructuring, Payless Shoes announced it is closing all of its North American stores, and has "wound down" its e-commerce operations.

"We would like to express our deep gratitude for your loyalty and for your business over the years", said Payless to its customers.

"We are proud of our accomplishments in Latin America and the Caribbean, including our leading market share and strong store footprint", commented Mario Zarazua, Chief Financial Officer for Payless.

Recommended News

  • EU's Juncker, May to meet Wednesday amid fears of Brexit extension

    With less than six weeks to go until March 29, chances are growing that Britain will seek to postpone its departure from the EU. It does want to discuss other ways to find a compromise, but, so far, London has been insistent on changing the legal text.
    Avengers: Endgame Is Gwyneth Paltrow's Last Marvel Movie

    Avengers: Endgame Is Gwyneth Paltrow's Last Marvel Movie

    Iron Man star Gwyneth Paltrow is planning to leave the Marvel Cinematic Universe after the release of Avengers: Endgame . The first is her mention of being "in a suit", which carries the implication that Pepper will gear up in Endgame .
    AAF gets $250 million lifeline from Hurricanes owner

    AAF gets $250 million lifeline from Hurricanes owner

    Its investors include MGM Resorts International, and it has broadcast partnerships with CBS, Turner Sports and NFL Network. Dundon will serve as chairman of the AAF's board of directors, effective immediately, according to the Hurricanes.
  • Ferrari

    Ferrari "very close to perfection" from day one - Vettel

    On top of that, teams are at this stage focusing more on reliability and learning rather than absolute speed. However, most believe Mercedes was not trying to equal Ferrari's laptimes on Monday.
    Pray for peace instead of spreading more hate: Sania Mirza

    Pray for peace instead of spreading more hate: Sania Mirza

    The attack resulted in the death of more than 40 Central Reserve Police Force (CRPF) personnel and the attacker. The Pulwama attack is considered to the deadliest terrorist strike in three decades in Jammu and Kashmir.
    Islamic State Jihadists defend last territory in Syria

    Islamic State Jihadists defend last territory in Syria

    In Syria, it retains a presence in the vast Badia desert, and the terrorists have claimed deadly attacks in SDF-held territory. Syria's Kurds have repeatedly called for their countries of origin to take them back , but these nations have been reluctant.
  • Teen in Lincoln Memorial protest sues Washington Post for $250 million

    Teen in Lincoln Memorial protest sues Washington Post for $250 million

    The 22-page lawsuit claims the Washington Post ignored journalistic standards and bullied Nick Sandman for three days. Sandmann's attorneys Lin Wood and Todd McMurtry filed the complaint in U.S.
    Trump to sign Space Force directive

    Trump to sign Space Force directive

    It would be the first new uniformed military service since 1947, when the Air Force was created after World War II. Other prominent lawmakers have signaled they have yet to make up their minds about a Space Force.
    Canada warns against all travel to Haiti, Americas News & Top Stories

    Canada warns against all travel to Haiti, Americas News & Top Stories

    Moreover, Ottawa advised Canadian citizens against traveling to Haiti due to violent protests there. Department of State has raised its travel alert for Haiti to level 4.
  • The Jonas Brothers are reportedly reuniting as JONAS

    The Jonas Brothers are reportedly reuniting as JONAS

    But after ditching their bling, Kevin admitted: "To be honest about it, sex was not worth the wait". The Jonas Brothers are going to have to dig out their purity rings and get them resized.
    'Veep' Final Season Trailer Brings Campaign Drama, Laughs And Even More Swearing

    'Veep' Final Season Trailer Brings Campaign Drama, Laughs And Even More Swearing

    Louis Dreyfus' Selina Meyer and her team try to find their way back to the highest political office in the U.S. one last time. Now, nearly two years later, the series will return for its seventh and final season starting March 31st.
    SeaWorld gondola ride turns into harrowing, hours-long ordeal for 16 passengers

    SeaWorld gondola ride turns into harrowing, hours-long ordeal for 16 passengers

    Authorities said that 16 people were trapped, some of them in gondolas suspended above the water in Mission Bay . It was 49 degrees at the theme park around 9 p.m., according to the National Weather Service.

We are pleased to provide this opportunity to share information, experiences and observations about what's in the news.
Some of the comments may be reprinted elsewhere in the site or in the newspaper.
Thank you for taking the time to offer your thoughts.