What the Payless bloodbath says about the death of fast fashion
It’s not just about the death of malls.
In another sign that fast fashion is dying off, Payless ShoeSource Inc. says it plans to close all of its 2,100 stores in the United States and Puerto Rico. Two years ago, Payless declared bankruptcy during a wider wave of store closures throughout the country, something we’ve come to describe as the retail apocalypse. At the time, the company shuttered a number of its stores, which allowed it to eliminate hundreds of millions of dollars in debt, according to the Wall Street Journal. But none of this restructuring was able to save it from further collapse.