No rescue for Payless Shoes Australia
All stores are expected to be transferred or closed by February next year.
“While we received a number of expressions of interest from various parties, there were no acceptable offers for the business as a whole,” said Jim Sarantinos, who along with James Stewart and Peter Gothard of Ferrier Hodgson said the closure process is progressed.
Ferrier said it will continue to work with interested parties and landlords to transfer stores and employee contracts were possible.
It has been a quick demise for the shoes retailer, who entered voluntary administration for the second time in three years late last month.
Payless Shoes Australia opened its first store in Sydney in 1980 and was acquired in March, 2013 by Payless ShoeSource, Inc. based in Topeka, Kansas in the United States of America.
Inside Retail has contacted Ferrier Hodgson for further comment.
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