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  1. #11
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    Quote Originally Posted by dv8 View Post
    precisely. the quality in la sirena is the same but prices are much lower and the selection is much bigger. of course the product itself is still worthless shyte that will fall apart in no time. sad, really, because for the same low price one can buy a pair of decent shoes online.
    Poor people don't shop online.

  2. #12
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    Quote Originally Posted by cobraboy View Post
    Poor people don't shop online.
    duh. that's why i said it's sad. poor get royally screwed by a lack of choice.

  3. #13
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    Ideal place to shop for shoes for children, who break their shoes anyway, no matter if you buy 6000 pesos shoes 'Cristinita' or 1200 pesos shoes in Payless.

    I don't see them disappearing though. It looks to me like a finance restructuring effort for which bankruptcy protection is solicited. The owners are some private equity firms, don't see them destroying capital by letting the chain go bankrupt for real. 

    Chapter 11 

  4. #14
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    article in DL says they will close their USA/PR locations straight away:
    https://www.diariolibre.com/economia...idos-AE6745389

  5. #15
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    Quote Originally Posted by dv8 View Post
    article in DL says they will close their USA/PR locations straight away:
    https://www.diariolibre.com/economia...idos-AE6745389

    Interesting that no mention is made of any stores closing in any other countries

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  6. #16
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    Quote Originally Posted by Mauricio View Post
    Ideal place to shop for shoes for children, who break their shoes anyway, no matter if you buy 6000 pesos shoes 'Cristinita' or 1200 pesos shoes in Payless.

    I don't see them disappearing though. It looks to me like a finance restructuring effort for which bankruptcy protection is solicited. The owners are some private equity firms, don't see them destroying capital by letting the chain go bankrupt for real. 

    Chapter 11 
    Chapter 11 will allow them to hold off creditors as they prepare a plan to service debt and survive.

    At this point, with 10 billion in liabilities and less than a billion in assets, it may be a difficult road unless creditors and bondholders take large haircuts on that debt. Beyond that, and if no agreement can be reached, they will likely convert to a Chapter 7 total liquidation.

    The DR stores always seem to have retail traffic in them.....so perhaps they will not close those stores, at least in the first round of closings.


    Respectfully,
    Playacaribe2

  7. #17
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    Quote Originally Posted by playacaribe2 View Post
    The DR stores always seem to have retail traffic in them.....so perhaps they will not close those stores, at least in the first round of closings.


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    Playacaribe2
    DR and other countries might be good places to unload excess inventory too.

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  8. #18
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    Quote Originally Posted by Mauricio View Post
    Ideal place to shop for shoes for children, who break their shoes anyway, no matter if you buy 6000 pesos shoes 'Cristinita' or 1200 pesos shoes in Payless. 
    Exactly ! Don't forget, their feet growing at the speed of light.

  9. Likes Mauricio liked this post
  10. #19
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    Quote Originally Posted by playacaribe2 View Post
    Chapter 11 will allow them to hold off creditors as they prepare a plan to service debt and survive.

    At this point, with 10 billion in liabilities and less than a billion in assets, it may be a difficult road unless creditors and bondholders take large haircuts on that debt. Beyond that, and if no agreement can be reached, they will likely convert to a Chapter 7 total liquidation.

    The DR stores always seem to have retail traffic in them.....so perhaps they will not close those stores, at least in the first round of closings.


    Respectfully,
    Playacaribe2
    I reckon there will be interested parties to take over part (s) of the franchise.

  11. #20
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    ....Interesting....I have brought some pairs of payless, back from USA.....from someones request......the quality was much better.....much cheaper, why doesnt USA ,DR, get together on this?................

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