Payless stores in Latin America to remain open
Payless ShoeSource stores in Caribbean countries like St Vincent and the Grenadines and others in Latin America will not be affected by the recent decision to close all its stores in the United States.
The popular shoe franchise, this month, filed for bankruptcy and announced that it was closing over 2,000 stores in the United States and Puerto Rico.
St Vincent and the Grenadines is currently home to one Payless ShoeSource store, which was opened over three years ago.
And manager, Andrea Bailey told SEARCHLIGHT that she has not heard any mention of stores closing in the Caribbean and Latin America.
She said that if that changes, it will be reported in the media but she has not heard of any changes so far.
According to recent reports, Mario Zarazua, the chief financial officer of the company, said Payless is committed to continued growth in Latin America and the Caribbean.
Zarazua is reported as saying that the company was “proud of our accomplishments in Latin America and the Caribbean, including our leading market share and strong store footprint.”
“We look forward to building upon our success in these regions by adding new stores and a broader online reach. While Payless’ North American stores have faced difficulty, due to a challenging retail environment, our thriving businesses in Latin America and the Caribbean have considerable profitable growth potential and remain an integral part of our long-term strategy,” Zarazua said, according to an article by the Jamaica Observer.
Payless has over 400 stores in Latin America and the Caribbean.
This is the second time that Payless ShoeSource has filed for bankruptcy in the United States, the first time being in 2017. Liquidation sales are expected to begin soon and stores set to close between the end of March and end of May this year.