Interesting point and it is consistent with what I have seen. I notice when shopping most anywhere here in the DR that the Chinese imports are of a lower quality for the same style of merchandise, while the price is higher here than in the US. That is why I order almost everything on line and have it shipped here.
- Thread starter playacaribe2
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Payless Shoes FYI
Interesting point and it is consistent with what I have seen. I notice when shopping most anywhere here in the DR that the Chinese imports are of a lower quality for the same style of merchandise, while the price is higher here than in the US. That is why I order almost everything on line and have it shipped here.
Interesting that none of its foreign stores, including the DR, are identified as closing.
Perhaps the foreign stores are profitable.....or it's just easier to close them in the states/Puerto Rico from both a legal and financial perspective.
Respectfully,
Playacaribe2
In my experience, I have always noticed that the foreign stores do not close, even during and after bankruptcy. Woolworths remained opened for years in the Caribbean after it was wiped off the map in the US. But who knows? That may change.
It's entirely possible you won't see any changes at all.
Some businesses merely license out their names to investors that are otherwise not at all related to the primary corporation. You see this happen all the time with car rental companies, for example.
So "Payless DR" may very well be doing fine and dandy, as it's independent of "Payless US."
Some businesses merely license out their names to investors that are otherwise not at all related to the primary corporation. You see this happen all the time with car rental companies, for example.
So "Payless DR" may very well be doing fine and dandy, as it's independent of "Payless US."
Payless DR is a subsidiary of Payless shoes LTD, which ultimately (over 4 or 5 other conpany layers) links directly back to Payless Shoesource. Kind of like this: Payless Shoesource -> Payless Shoesource Worldwide -> PSS Holdings -> PSS -> PSS Latin America Holdings ->Payless CA Management LTD -> Payless Shoesource BVI Holdings -> Payless Shoesource de la República Dominicana S.A.
Yeah, kind of bored here.
....read a big article in paper this morning(mpls, Minn.) ....about payless, the 400 stores to close are mostly in USA......they mean closed, shut down....4 were in minneapolis area......400 out of 4000, is I think pruning the dead wood.......Doc..........
Was going to post that. Silver lining may be that the DR entity could keep using the name and not pay . . .lol. There used to be Tony Romas in colombia. They still have them but they are not official. They do not appear on the corp site and the food is not the same. In mexico they closed a bunch of Tony Romas and there is Texas Ribs, which has almost exact same menu including the beef ribs that most other rib joints don't do. My guess is they just stopped paying franchise fees and went it alone in both cases.
for the fans of qualityless shoes, it seems they came out on top after restructuring:
http://www.listindiario.com/economia/2017/08/29/480174/payless-emerge-de-la-reestructuracion
http://www.listindiario.com/economia/2017/08/29/480174/payless-emerge-de-la-reestructuracion
Are Payless shoe stores still open in DR? I remember one next to La Sirena in San Cristobal.
Anyway, declared bankruptcy and shutting down in USA, guessing that means DR too. Liquidation sales expected as soon as next week.
https://www.foxbusiness.com/retail/payless-shoesource-set-to-close-2300-stores-report.amp
Anyway, declared bankruptcy and shutting down in USA, guessing that means DR too. Liquidation sales expected as soon as next week.
https://www.foxbusiness.com/retail/payless-shoesource-set-to-close-2300-stores-report.amp
Second and likely final Bankruptcy for them.
Offshore operations are apparently operated as separate business units........and this filing may not have any major impact on them other than supply chain management, etc.
Retailers are folding left and right............Amazon is living up to its name.
Respectfully,
Playacaribe2
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As of a few weeks ago there was a Payless shoe store open in MegaCentro Santo Domingo este.
Unless the local franchisee buys his Dominican stores and the right to use the Payless name in the Dominican market, Payless may also become a thing of the past in the DR.
Situations such as this always reminds me of Woolworth in Mexico. When that American company went belly up, their Mexican business buddies simply bought the Mexican stores and name. The end result is that Mexico is the only country in the world that still has operating Woolworth stores. It would be interesting if the same happen to Sears in Mexico.
In the meantime, the Woolworth Building in NYC is still quite a sight to look at. The newer and shinier skyscrapers can’t seem to match the elegance of this building.
I have bought many shoes in Payless in Puerto Plata and in Santiago for myself and my family and must say that they last a heck of a lot longer than those in La Sirena. As of 3 weeks ago the one in Santiago next to Pricemart is still open. Would be a shame to see them go although it would cost me a lot less money as each time I go in there my wife and two daughters usually walk out with at least 2 pairs of shoes each!!!
Thanks for the memory. I remember seeing one in Mexico several years ago, and had to look twice.
This is so true. The same goes for the John Wanamaker, now Macy's, department store in Philadelphia. That was grand style.