Cache Valley may be losing yet another retailer.
Friday saw reports that Payless ShoeSource may be closing all of its 2,300 stores if it files for bankruptcy next week.
Logan has two Payless store locations. The first is a store on Main Street and the second resides inside Shopko, which announced its own closure last week.
A local representative at the Logan store said that they have no information and that the bankruptcy is just “a rumor” until next week. Sources asked not to be identified as any liquidation preparation is confidential.
The Herald Journal reached out to a representative at the Payless corporate offices. The corporate office said that they aren’t allowed to disclose anything at the moment.
This would be the second bankruptcy for Payless; the first happened in April 2017.
If all Payless stores are closed, that would include a store in Tremonton and another in Brigham City. Roughly 30 other locations are spread between the Ogden and Provo areas including locations currently inside malls, Target, other Shopkos and Walmart.
Many media outlets have referred to a spike in retail closures as “The Retail Apocalypse” as more brick-and-mortar stores have closed. From the term’s creation in 2016, the phenomenon has grown to include Toys R’ Us, Bed, Bath and Beyond, K-Mart and, most recently, Shopko and Payless stores in 2019.
Pay-Less National was founded in Topeka, Kansas, in 1956. The named changed officially to Payless ShoeSource Inc. in 1991.