Prime retail space is going vacant. The latest example of yet another retailer closing its doors is Payless Shoe Source. Payless has filed Chapter 11 and will be closing 400 stores. It’s ironic really, because their whole premise is Americans want to pay less for shoes, but the retailer can’t match the price or experience of online options. It’s one more example of the epidemic hitting brick-and-mortar retailers.
Last year (and again this year), it was Radio Shack that prompted the headlines. Sears has been in decline for decades.
