PAY NO MORE: Payless Shoe is shutting up shop in the Rose City Shoppingworld.
PAY NO MORE: Payless Shoe is shutting up shop in the Rose City Shoppingworld. Jonno Colfs

Grafton outlet closure start of slow downfall

EARLIER this year Payless Shoes closed up shop in Grafton Shoppingworld, replaced by rival Spend-less Shoes.

Despite local fears the closure was due to poor retail activity in the Clarence Valley, The Daily Examiner can now reveal the major footwear chain has collapsed nationally and receivers have moved in with plans to close all of its 132 remaining stores.

Payless Shoes has a strong presence on the New South Wales North Coast with outlets in Coffs Harbour, Lismore and Tweed Heads.   Administrator Jim Sarantinos said the business had failed to sell.

"While we received a number of expressions of interest from various parties, there were no acceptable offers for the business as a whole," Mr Sarantinos said.

About 730 staff are expected to be impacted, with all stores to be transferred or closed sometime in February 2017.

"We would particularly like to thank the Payless Shoes employees for their support during the Administration process," Mr Sarantinos said.

He said employees across head office and stores have been briefed today, and will be provided with appropriate support by the administrators.

The chain also has a strong presence on the New South Wales North Coast with outlets in Coffs Harbour, Lismore and Tweed Heads. 



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