CLOSE The discount shoe retailer Payless ShoeSource is set to close all of its stores when its files for bankruptcy later this month. Veuer's Mercer Morrison has the story. Buzz60

Payless ShoeSource confirmed Friday that it will close its 2,100 stores in the U.S. and Puerto Rico and start liquidation sales Sunday. The company is also shuttering its e-commerce operations.

The closings mark the biggest by a single chain this year and nearly doubles the number of retail stores set to close in 2019.

"We expect all stores to remain open until at least the end of March and the majority will remain open until May," the company said in a statement to USA TODAY. "This process does not affect the company’s franchise operations or its Latin American stores, which remain open for business as usual.”

Payless.com is no longer accepting online orders but its store locator was still working Saturday.

The Topeka, Kansas-based discount shoe retailer had previously filed for bankruptcy protection in 2017 and closed 673 stores.

Charlotte Russe bankruptcy: 94 stores are closing. Is your store on the list?

Gymboree liquidation: Last day to use Gymboree and Crazy 8 gift cards is Feb. 16

Payless ShoeSource is closing all U.S. stores. (Photo: J.C. Reindl, Detroit Free Press)

In a September news release, Payless said it was "the largest specialty footwear retailer in the Western Hemisphere" with more than 3,500 stores in 40 countries worldwide and nearly 18,000 employees.

Days before Payless confirmed stores would be shuttered, Coresight Research on Wednesday released an outlook of 2019 store closures that said there was "no light at the end of the tunnel."

Prior to the Payless announcement, 2,187 store closings had been announced in the first six weeks of the year, according to the global market research firm's report. This represented a 23 percent increase over the same time period last year.

Those closings include 749 Gymboree stores, 251 Shopko stores and 94 Charlotte Russe locations.

For 2018, Coresight Research tracked 5,524 closings, which included all Toys R Us stores, and hundreds of Mattress Firm stores, Kmart and Sears locations, and Brookstone's remaining mall stores.

The record year for closings was 2017, with 8,139 shuttered stores, Coresight reported. This included the 2017 Payless closings, the entire HHGregg electronics and appliance chain and hundreds of Sears and Kmart stores.

Shopko bankruptcy: More than 250 stores amid bankruptcy filing: See the full list

Are more store closings coming: Firm forecasts 'No light at the end of the tunnel'

Follow USA TODAY reporter Kelly Tyko on Twitter: @KellyTyko

Read or Share this story: https://www.usatoday.com/story/money/2019/02/15/payless-shoesource-all-u-s-stores-liquidating-and-closing/2885949002/</s>Payless ShoeSource confirmed Friday that it will close its 2,100 stores in the U.S. and Puerto Rico and start liquidation sales Sunday. The company is also shuttering its e-commerce operations.

The closings mark the biggest by a single chain this year and nearly doubles the number of retail stores set to close in 2019.

"We expect all stores to remain open until at least the end of March and the majority will remain open until May," the company said in a statement to USA TODAY. "This process does not affect the company’s franchise operations or its Latin American stores, which remain open for business as usual.”

On Wednesday, Coresight Research released an outlook of 2019 store closures that said there was "no light at the end of the tunnel."

Are more store closings coming: Firm forecasts 'No light at the end of the tunnel'

Gymboree liquidation: Last day to use Gymboree and Crazy 8 gift cards is Feb. 16

Prior to the Payless announcement, 2,187 store closings had been announced in the first six weeks of the year, according to the global market research firm's report. This represented a 23 percent increase over the same time period last year.

For 2018, Coresight Research tracked 5,524 closings, which included all Toys R Us stores, hundreds of Mattress Firm stores, Kmart and Sears locations. The record year for closings was 2017 with 8,139 shuttered stores, Coresight reported.

The Topeka, Kansas-based discount shoe retailer had previously filed for bankruptcy protection in April 2017 and closed 400 stores.

This story will be updated.

Charlotte Russe bankruptcy: 94 stores are closing. Is your store on the list?

Shopko bankruptcy: More than 250 stores amid bankruptcy filing: See the full list

This article originally appeared on USA TODAY: Payless ShoeSource closing all 2,100 stores, starting liquidation sales Sunday</s>Payless ShoeSource confirmed Friday that it will close its 2,100 stores in the U.S. and Puerto Rico and start liquidation sales Sunday. The company is also shuttering its e-commerce operations.

The closings mark the biggest by a single chain this year and nearly doubles the number of retail stores set to close in 2019.

"We expect all stores to remain open until at least the end of March and the majority will remain open until May," the company said in a statement to USA TODAY. "This process does not affect the company’s franchise operations or its Latin American stores, which remain open for business as usual.”

In the Milwaukee area, Payless operates stores in all four major shopping malls — Mayfair, Southridge, Brookfield Square and Bayshore Town Center — and has locations in other retail areas in the city and suburbs.

The Payless website lists stores at: 1001 W. Mitchell St., Milwaukee; River West Shopping Center, 320 E. Capitol Drive, Milwaukee; Southgate Marketplace, 3333 S. 27th St., Milwaukee; Westbrook Shopping Center, 2140 E. Moreland Blvd., Waukesha; and N96W18453 County Line Road, Menomonee Falls.

On Wednesday, Coresight Research released an outlook of 2019 store closures that said there was "no light at the end of the tunnel."

Are more store closings coming: Firm forecasts 'No light at the end of the tunnel'

Gymboree liquidation: Last day to use Gymboree and Crazy 8 gift cards is Feb. 16

Prior to the Payless announcement, 2,187 store closings had been announced in the first six weeks of the year, according to the global market research firm's report. This represented a 23 percent increase over the same time period last year.

Shopko bankruptcy: More than 250 stores amid bankruptcy filing: See the full list

Charlotte Russe bankruptcy: 94 stores are closing. Is your store on the list?

For 2018, Coresight Research tracked 5,524 closings, which included all Toys R Us stores, hundreds of Mattress Firm stores, Kmart and Sears locations. The record year for closings was 2017 with 8,139 shuttered stores, Coresight reported.

The Topeka, Kansas-based discount shoe retailer had previously filed for bankruptcy protection in April 2017 and closed 400 stores.</s>NEW YORK — Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have closed down in the last year.

The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All of the stores will remain open until at least the end of March and the majority will remain open until May.

The debt-burdened chain filed for Chapter 11 bankruptcy protection in April 2017, closing hundreds of stores as part of its reorganization.

At the time, it had over 4,400 stores in more than 30 countries. It remerged from restructuring four months later with about 3,500 stores and eliminated more than $435 million in debt.

More: Parking in New Jersey's largest cities could cost more under bill

More: State police investigating report of noose at American Dream construction site

The company said in an email that the liquidation doesn't affect its franchise operations or its Latin American stores, which remain open for business as usual. It lists 18,000 employees worldwide.

Shoppers are increasingly shifting their buying online or heading to discount stores like T.J. Maxx to grab deals on name-brand shoes. That shift has hurt traditional retailers, even low-price outlets like Payless. Heavy debt loads have also handcuffed retailers, leaving them less flexible to invest in their businesses.

But bankruptcies and store closures will continue through 2019 so there's "no light at the end of the tunnel," according to a report by Coresight Research.

Before this announcement, there have been 2,187 U.S. store closing announcements this year, with Gymboree and Ascena Retail, the parent of Lane Bryant and other brands, accounting for more than half the total, according to the research firm. This year's total is up 23 percent from the 1,776 announcements a year ago. Year-to-date, retailers have announced 1,411 store openings, offsetting 65 percent of store closures, it said.

Payless was founded in 1956 by two cousins, Louis and Shaol Lee Pozez, to offer self-service stores selling affordable footwear.</s>Paylesss ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have been shuttered in the last year.

The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All stores will remain open until at least the end of March and the majority will remain open until May.

The debt-burdened chain filed for Chapter 11 bankruptcy protection in April 2017, closing hundreds of stores as part of its reorganization.

At the time, it had over 4,400 stores in more than 30 countries. It remerged from restructuring four months later with about 3,500 stores and eliminated more than $435 million in debt.</s>Discount shoe chain Payless ShoeSource is closing down all 2,100 of its stores in the United States and Puerto Rico, as well as its online operations, it was announced on Friday, February 15. The retail company, which was founded in 1956, has been struggling in recent years, and, prior to the closure news, was said to be preparing to file for bankruptcy for the second time in as many years.

Starting on Sunday, February 17, Payless will begin liquidating its inventory with huge sales at stores, and will also begin to wind down its e-commerce platform, according to Fox Business.

“We expect all stores to remain open until at least the end of March and the majority will remain open until May,” the Topeka, Kansas-based company said in an official statement.

Payless stated that its franchise operations and its stores in Latin America will not be affected and will “remain open for business as usual.”

The shoe retailer reportedly employs more than 18,000 people globally at its nearly 3,600 stores in more than 40 countries. It is not currently known how many workers will be losing their jobs due to the U.S. and Puerto Rico shop closures.

Payless first filed for bankruptcy in April of 2017 and shut down 673 stores as a result.

USA Today examined a Coresight Research report that revealed 5,524 brick-and-mortar stores were closed down in 2018, including Toys R Us, Mattress Firm, Kmart, and Sears locations.

That number was down from 2017 in which 8,139 stores were shuttered.

However, in the first six weeks of 2019, prior to the Payless announcement, it was reported that 2,187 stores were going to close, which is a 23 percent increase over the same time period last year.

Gymboree is said to be closing 749 stores, Shopko is shutting down 251 locations, and Charlotte Russe will close 94 shops. Other retailers reported to be in trouble include FullBeauty Brands and Things Remembered.

Additionally, Sears and JC Penney have had public struggles recently, but are working on strategies to save their businesses.

Sears plans on making the size of its 425 remaining stores, including Kmarts, smaller, and will devote more floor space to the sale of tools and appliances, according to the Wall Street Journal.

JC Penney is preparing to do the exact opposite by discontinuing its sale of major appliances by the end of February, choosing to focus more on apparel and home furnishings.

Many of these closures are due to the fact that a large majority of Americans are no longer shopping at traditional, brick-and-mortar stores, instead ordering what they need online from the comfort of their own homes from retail giants such as Amazon.</s>U.S. discount retailer Payless ShoeSource Inc said on Friday it would begin going-out-of-business sales at its U.S. and Puerto Rico stores on Feb. 17 and wind down its e-commerce operations.

REUTERS: U.S. discount retailer Payless ShoeSource Inc said on Friday it would begin going-out-of-business sales at its U.S. and Puerto Rico stores on Feb. 17 and wind down its e-commerce operations.

Payless expects all stores to remain open until at least the end of March and the majority will remain open until May, a company spokeswoman said in an email statement.

Reuters reported on Thursday that the company was planning to close all of its nearly 2,300 stores when it files for bankruptcy later this month for the second time in as many years.

"This process does not affect the company's franchise operations or its Latin American stores, which remain open for business as usual," the spokeswoman said.</s>(Reuters) - U.S. discount retailer Payless ShoeSource Inc said on Friday it would begin going-out-of-business sales at its U.S. and Puerto Rico stores on Feb. 17 and wind down its e-commerce operations.

Payless expects all stores to remain open until at least the end of March and the majority will remain open until May, a company spokeswoman said in an email statement.

Reuters reported on Thursday that the company was planning to close all of its nearly 2,300 stores when it files for bankruptcy later this month for the second time in as many years.

“This process does not affect the company’s franchise operations or its Latin American stores, which remain open for business as usual,” the spokeswoman said.</s>The famous Payless ShoeSource says they will be closing down the rest of the 2,100 stores across the United States.

The Kansas-based chain says starting on Sunday, they will hold liquidation sales and discontinue their e-commerce operations. A few stores will end operation until the end of March and the rest will end in May.

Before, they had over 4,400 stores in over 30 countries. After restructuring from debt problems, it went down to roughly 3,500 stores.

An email sent by the company states that it will not affect the franchise or the Latin American stores. Those stores will remain open.

Consumers are buying shoes at discount stores, which hurt traditional retailers and Payless.</s>Payless ShoeSource will begin to close its U.S. stores on Sunday, a spokesperson for the shoe retailer told CNBC in a statement.

The retailer will begin liquidation sales for its U.S. stores on Feb 17. It is also winding down its e-commerce operations. It expects all stores to remain open until at least the end of March and the majority until May.

CNBC previously reported the chain was preparing for a potentially imminent bankruptcy. In hopes of keeping some stores open, it had been seeking to find a buyer for swaths of its real estate across the U.S.

Payless currently has more than 2,700 North American stores, according to its website. The liquidation will not impact its franchised or Latin American stores, the spokesperson said.

Payless, which first filed for bankruptcy protection in April 2017, had been notable for its ability to emerge from bankruptcy, a feat many retailers, like Toys R US, have been unable to achieve. Still, several of its peers, like Gymboree, have emerged from bankruptcy only to boomerang back.
Payless ShoeSource is closing all its 2,100 stores in America, starting liquidation sales on Sunday.