This Popular Shoe Retailer in Rochester Won’t Be Closing its Doors After All…
At least, not yet.
According to this report, Payless Shoesource is planning to close the doors to 400 “underperforming” stores almost immediately after filing for Chapter 11 bankruptcy protection earlier this year.
The footwear company could very easily close as many as a 1,000, but will go by a store-by-store review to determine whether to keep those open or not.
However, none of those will be here in Rochester, but the company could announce further closures in the near future as it restructures its business.
With 32 stores across Minnesota, the ones that will close are:
- 8621 East Point, Douglas Road, Cottage Grove.
- EasTen Shopping Center, Moorhead.
- Medford Outlet Center, Medford.
- Elk Park Center, Elk River.
The Topeka, Kansas-based company has about 22,000 employees working at 4,000 stores in 30 countries. The rise of online shopping and continued competition from other retailers is causing Payless to struggle bringing in those shoppers who still prefer to do their shopping at the mall in person.
Of course, Payless isn't the only big-name company to close their doors in Minnesota recently. Other popular retailers like JC Penney, Sears, Macy’s, and Gordmans, have all announced that they are closing their doors due to declining sales and increased online competition. So this is definitely a trend, not a blip on the radar.
With dwindling sales and growing competition from stores like Target and online companies like Amazon, it’s looking more and more like these stores might not be around for much longer...