World Footwear

Companies

Payless Shoes to close in Australia

Dec 20, 2016 Australia
Payless Shoes to close in Australia
One of Australia's largest independent shoe retailers, will close 132 stores across the country. 730 people will loose their jobs
Administrators James Stewart, Jim Sarantinos and Peter Gothard were appointed to manage the company in November, the second time in four years that the business has been placed in administration. At the time the company was placed into voluntary administration for the second time, it was confirmed that Payless Shoes had 870 employees and annual sales of approximately 75 million Australian Dollars.

While the administrators have received expressions of interest from various parties, it is said that there were no acceptable offers for the business as a whole. Now the announced closures seems irreversible, and while the process is in progress, the administrators will continue to work with interested parties and landlords to transfer stores and employee contracts where possible.

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