TORONTO - Mounting debts and a challenging retail market are forcing Payless ShoeSource Canada Inc. to shutter all of its North American stores by May. A crane operator installs a Payless Shoesource sign to the front of the store Thursday afternoon, Jan. 19, 2012, on Range Line Road in Joplin, Mo. Payless ShoeSource Canada Inc. says it will soon file for creditor protection in Canada and close all 2,500 of its North American stores this spring. Winegard suspects discount footwear sellers including Walmart Inc., manufacturers with large online presences and e-commerce brands like Amazon Inc. and Asian-based e-commerce giant Alibaba Group Holding Limited. Payless has 420 stores in Latin America, the U.S. Virgin Islands, Guam and Saipan, and 370 international franchisee stores across the Middle East, India, Indonesia, Indochina, Philippines and Africa.

Source: thestar February 19, 2019 17:13 UTC