Payless Shoes, GameStop To Close Hundreds Of Stores Nationwide
According to multiple sources, national retail shoe giant Payless Shoes plans to shutter at least 500 stores, but have not divulged which ones. And, Game Stop is looking at closing 150 of it's 7,500 outlets due to sliding sales.
According to pressconnects.com, part of the USA Today network, and Bloomberg as well, Payless has been considering over the last year closing as many as 1,000 stores, and will now reportedly seek Chapter 11 bankruptcy. Bloomberg says the move would close 500 stores and involve Chapter 11.
At it's highest peak, Payless Shoes had nearly 4,000 stores worldwide, and 22,000 employees, although those numbers have dipped. Much like Sears, JC Penney and Macy's competition from newer retailers and especially online shopping have eroded sales. There are three Payless outlets in Kennewick, one in the Columbia Center Mall, one across CC Blvd, and one in the Kennewick Safeway Plaza. There's also one in Pasco.
Meanwhile, Game Stop plans to close 2-3% of it's stores, or about 150 out of 7,500 worldwide. Sources say sales dropped about 13% recently including a poor holiday, and like Payless and the others, competition from online retailers was the main reason. No word on which stores will close.
Game Stop has a store in Columbia Center Mall, and one in Richland on Queensgate.