Back-to-school shopping was either the highlight of your year or your worst nightmare. Being dragged all over creation, knowing it all led up to *shiver* school, might have given you goosebumps at the time. But one store your mom dragged you to as kid just filed for bankruptcy, and we’re feeling nostalgic for Payless.
It was pleather heaven — the Mecca of embroidered denim clogs. We bought our yearly saddle shoes there, along with our ballet slippers for dance class! As kids, we may not have appreciated the discount shoe chain then.
But now that Payless is filing for Chapter 11 bankruptcy and closing 400 stores, we’re feeling like we didn’t get our chance to say goodbye.
Payless is now on the list of a handful of childhood hot-spots that have felt the burden of bankruptcy. According to Nylon, Wet Seal, Bebe, BCBG, and American Apparel are all closing up shop after experiencing decline in sales. But Payless plans to rise from the ashes after this setback.
Payless chief exec, W. Paul Jones, released a statement saying,
“This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify. We will build a stronger Payless for our customers, vendors and suppliers, associates, business partners and other stakeholders through this process.”
Perhaps this isn’t the complete demise of the shoe store we all loved (or deeply hated) as a child. But for now, we bid Payless adieu and wish its sole well in the shoe afterlife.