Payless ShoeSource is promoting off the whole lot in its 2,300 shops in the U.S., Puerto Rico and Canada, at preliminary reductions of as much as 40% off.
The privately held bankrupt low cost shoe retailer stated the liquidation occasion, which it boasts might be the largest in U.S. retail history by store count, will proceed till all $1 billion value of merchandise, together with furnishings, fixtures and gear, is gone.
The occasion is being held by a three way partnership of companies, together with B. Riley Financial Inc.
subsidiary Great American Group LLC and Tiger Capital Group.
“Since 1956, Payless has represented fashion-forward footwear and accessories at reasonable prices,” stated Great American Retail Solutions President Scott Carpenter. Through this sale, consumers will be capable of benefit from vital liquidation reductions on each merchandise in each store in the U.S. and Canada.”
This is the place you can find a store near you having a liquidation sale.
“Payless has been the go-to shoe store for millions of families, so the closure of its U.S. and Canadian retail operations is significant news in terms of sheer scale and consumer impact,” stated Tiger Capital Chief Operating Officer Michael McGrail.
Payless, which was taken personal in 2012, filed for bankruptcy last week because it has been harm by elevated competitors. The liquidation comes at a time that the SPDR S&P Retail exchange-traded fund
has misplaced 1.three% over the previous 12 months, whereas the S&P 500 index
has gained 2.zero%.