PARSIPPANY — Payless shoe stores plans to close 2,100 locations becoming the latest retailer to succumb to increasing competition from online rivals like Amazon It has over 4,400 stores in more than 30 countries and was founded in 1956.
As part of the bankruptcy process, Payless is looking for buyers for its real estate, which could include selling large blocks of stores in certain areas of the country. If it cannot find buyers, it may need to shutter the majority, if not all, of its North American stores.
The discount shoe store will close all 2,100 of its locations in the United States and Puerto Rico in the coming months, including the store located in the Morris Hills Shopping Center. There are also stores in Livingston, Rockaway and Willowbrook Malls.
The debt-burdened chain filed for Chapter 11 bankruptcy protection in April 2017, closing hundreds of stores as part of its reorganization.
Payless was founded in 1956 by two cousins, Louis and Shaol Lee Pozez, to offer self-service stores selling affordable footwear.