Payless Shoesource Close to Filing Bankruptcy with up to 500 Stores Closing
It seems that Payless Shoesource is another company that is going by the wayside due to online competition.
According to an article from usatoday.com and Bloomberg News Payless may be filing for bankruptcy within weeks and plans to close 4-500 stores as part of their reorganization plan. The company was founded in 1956 as a way for consumers to select footwear themselves at a discounted price.
As shoppers increasingly buy online company officials have worked aggressively to keep up. One Payless Shoesource store in this area is at The Miller Hill Mall, no official statement has been released as to what stores will close. My question is, do you typically buy shoes online or at a store? Let me know in the comments section below.