Budget footwear retailer Payless Shoes has announced that they will be closing all stores in Australia – with more than 730 people set to lose their jobs.
It’s not the Christmas present employees at the shoe chain were hoping for, with all 132 stores expected to shut shop by February next year.
The company’s administrator Ferrier Hodgson made the shock announcement on Wednesday.
ARTICLE CONTINUES AFTER THIS ADVERTISEMENT
“While we received a number of expressions of interest from various parties, there were no acceptable offers for the business as a whole.”
“While the closure process is progressed, [we] will continue to work with interested parties and landlords to transfer stores and employee contracts where possible.”
Ferrier Hodgson said approximately 730 staff may be impacted, with all stores anticipated to be transferred or closed sometime in February 2017.
Administrator Jim Sarantinos said this is a disappointing outcome for the employees of Payless Shoes who have given loyal service to the business over many years.
“We would particularly like to thank the Payless Shoes employees for their support during the Administration process”.