Kelly Tyko USA TODAY Published 7:19 PM EST Feb 15, 2019 Payless ShoeSource confirmed Friday that it will close its 2,100 stores in the U.S. and Puerto Rico and start liquidation sales Sunday. The company is also shuttering its e-commerce operations. The closings mark the biggest by a single chain this year and nearly doubles the number of retail stores set to close in 2019. “We expect all stores to remain open until at least the end of March and the majority will remain open until May,” the company said in a statement to USA TODAY. “This process does not affect the company’s franchise operations or its Latin American stores, which remain open for business as usual.” On Wednesday, Coresight Research released an outlook of 2019 store closures that said there was “no light at the end of the tunnel.” Are more store closings coming: Firm forecasts ‘No light at the end of the tunnel’ Gymboree liquidation: Last day to use Gymboree and Crazy 8 gift cards is Feb. 16 Prior to the Payless announcement, 2,187 store closings had been announced in the first six weeks of the year, according to the global market research firm’s report. This represented a 23 percent increase over… Read full this story
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