news 3 months ago

This May Be Biggest US Retail Liquidation Ever

Newser — Jenn Gidman

In what the Wall Street Journal says may be the biggest retail liquidation ever in America, one of the nation's most well-known chains for shoes on the cheap is closing all of its stores here.

A spokesman says all of Payless' 2,100 or so US locations are expected to stay open through the end of next month, and that "the majority" will keep doors open until May.

Other Payless stores around the world aren't said to be affected. Starting this weekend, customers will start to see liquidation sale signs in what looks to be a succumbing to fierce competition not only from brick-and-mortar stores like DSW, Walmart, and Kohl's, but also from online retailers such as Zappos.

Sources say Payless is gearing up to file for bankruptcy protection, which it already did a couple of years back, resulting in hundreds of stores closing.

Its e-commerce operation is also set to shutter, per USA Today.

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This article originally appeared on Newser: This May Be Biggest US Retail Liquidation Ever