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Payless ShoeSource set to close all remaining stores,
Posted on 2/15/19 at 8:14 am
Posted on 2/15/19 at 8:14 am
Payless ShoeSource plans to close all of its stores when it files for bankruptcy later this month, according to a Reuters report.
The discount retailer has about 2,300 stores nationwide, including three in Central New York. There are stores in Syracuse, Auburn and Cortland. The store at Destiny USA is one of the original businesses that opened when Carousel Mall opened in October 1990.LINK
The discount retailer has about 2,300 stores nationwide, including three in Central New York. There are stores in Syracuse, Auburn and Cortland. The store at Destiny USA is one of the original businesses that opened when Carousel Mall opened in October 1990.LINK
11
Posted on 2/15/19 at 8:16 am to BowDownToLSU
Zappos raped their b-holes.
Posted on 2/15/19 at 8:16 am to Displaced
quote:
Zappos raped their b-holes.
And Amazon
Posted on 2/15/19 at 8:17 am to BowDownToLSU
See what happens when you refuse to sell Nike
Posted on 2/15/19 at 8:23 am to BowDownToLSU
Payless is owned by Private Equity.
I've always wonder if Private Equity buy companies like this with the expectation that they'd eventually liquidate.
I've always wonder if Private Equity buy companies like this with the expectation that they'd eventually liquidate.
Posted on 2/15/19 at 8:52 am to GetCocky11
quote:
I've always wonder if Private Equity buy companies like this with the expectation that they'd eventually liquidate.
That’s the typical life cycle. Private equity companies buy solid companies, increase their debt burden, take consistent high distributions to raid the cash and equity, then file for bankruptcy to stiff the lenders when they’ve bled the corpse dry.
Posted on 2/15/19 at 8:55 am to BowDownToLSU
Retail refuses to evolve. Keep it up folks. Amazon is coming for all of you.
Posted on 2/15/19 at 8:55 am to BowDownToLSU
quote:I also have a cutie to call who loves the way I knock on her boots
Payless. Shoesource
Posted on 2/15/19 at 8:57 am to mindbreaker
quote:
See what happens when you refuse to sell Nike
Did this happen?
Nike made shitty brands for Payless at one point
Posted on 2/15/19 at 8:59 am to jcaz
quote:
Retail refuses to evolve. Keep it up folks. Amazon is coming for all of you.
Did Payless not have an online presence where you could buy shoes?
Posted on 2/15/19 at 10:07 am to BowDownToLSU
I think Payless got "Big Boxed" more than they got "Amazoned"
There was one in Chalmette. It's small. But Walmart carries shoes. A Shoe Dept was built, then it doubled in size. Stores such as JC Penney and Kohls have expanded shoe selection. Not that far away.
Meanwhile, Payless had a small selection and not a lot of stock.
There was one in Chalmette. It's small. But Walmart carries shoes. A Shoe Dept was built, then it doubled in size. Stores such as JC Penney and Kohls have expanded shoe selection. Not that far away.
Meanwhile, Payless had a small selection and not a lot of stock.
Posted on 2/16/19 at 1:33 pm to BowDownToLSU
I don't know a single man that shops there.
Posted on 2/16/19 at 1:41 pm to BowDownToLSU
Should’ve kept that prank money at least... 
Posted on 2/16/19 at 2:04 pm to JabarkusRussell
quote:
I don't know a single man that shops there.
Do you usually ask all the men you meet where they shop for shoes?
Posted on 2/16/19 at 2:43 pm to GetCocky11
That completely depends on how the private equity team sets up the cash flow. But most private equity cash flows are 10 year or less investments.
Posted on 2/16/19 at 6:54 pm to wildtigercat93
quote:
Do you usually ask all the men you meet where they shop for shoes?
No but I probably get asked where I got my shoes from at least once a week. Eastbay.com.
Posted on 2/16/19 at 6:56 pm to BowDownToLSU
Should’ve tried to get customers to pay more.
Posted on 2/16/19 at 7:12 pm to TBoy
quote:
That’s the typical life cycle. Private equity companies buy solid companies, increase their debt burden, take consistent high distributions to raid the cash and equity, then file for bankruptcy to stiff the lenders when they’ve bled the corpse dry.
Oh Jesus Christ.
Posted on 2/16/19 at 7:16 pm to JabarkusRussell
I shopped there for cheap work boots and shoes in my younger days. The merchandise was crap. Buy cheap shoes and you get bad quality. I spend more money for longer lasting footwear now.
Posted on 2/16/19 at 7:22 pm to Klingler7
quote:
I shopped there for cheap work boots and shoes in my younger days. The merchandise was crap. Buy cheap shoes and you get bad quality. I spend more money for longer lasting footwear now.
My wife and I were talking about cheap shoes in stores like Payless and started talking about the old "Show Town" stores they had in the N.O. area back in the day.
Cheap shoes that really didn't last all that long. Kind of like the crap you get at K-Mart and Walmart's shoe departments.
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