A joint venture between Great American Group and Tiger Capital Group will be conducting liquidation efforts at 388 Payless ShoeSource locations.
When it filed for bankruptcy on April 4, Payless said it planned to close about 400 stores. Payless ShoeSource will continue to operate approximately 1,500 stores in the United States. Globally, Payless has 4,400 brick-and-mortar stores in more than 30 countries and about 22,000 employees.
Brands to be available as part of the liquidation efforts include Champion, American Eagle by Payless, Christian Siriano for Payless, Airwalk, Dexter and Dexflex Comfort, as well as Brash. Kids’ brands include SmartFit, and a range of fun character shoes from Marvel, Disney and Nickelodeon, including Spider-Man, Disney Princess, Cars and Dora the Explorer.
“For bargain-conscious shoppers across the United States, the store closing sales represent a pragmatic opportunity to save a significant amount of money on a universal need,” said Scott K. Carpenter, president of GA Retail Solutions, a leading provider of asset disposition and auction solutions.
“Everybody needs footwear, whether you’re a runner, office worker, parent or maybe all three,” said Michael McGrail, COO of Tiger Group, which provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. “These store closing sales epitomize the retailer’s familiar slogan—‘Go To, Get More, Pay Less.’ ”
To see a list of underperforming locations slated for closure, please click here.
