UPDATE: Payless ShoeSource filed their second and final bankruptcy on February 18, 2019. Roughly 16,000 employees will lose their jobs as a result of the bankruptcy. Store closing procedures will be coming into effect soon at every remaining store location with plans of every location being empty and closed by May 2019.

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Payless has hired on advisers to help avoid a second bankruptcy. They are saying they will be closing about one-third of their 3,000 stores. 900 stores have closed between 2016 and 2018. This makes people wonder if retail really is dead. Companies like Zappos have done a great job of saying they will ship you shoes and allowing returns at no charge if shoes are unsatisfactory. This makes it a very nice experience because you can sit in the comfort of your home to try on your shoes and decide if you like them or not. It makes it so much easier than walking in a store and trying to find your size. Businesses like Payless ShoeSource need to realize that human interaction has disappeared from thee corporate model; people prefer online shopping. There needs to be a value for the customer to come in – which Payless is lacking. If companies are not online, they need to start giving customers better in-store experiences or risk the inevitable.

 

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