Calling all bargain-seekers: Two financial services firms assisting bankrupt retailer Payless ShoeSource in its closing of nearly 400 stores released a joint statement today touting “significant discounts” at the shuttering locations.
Great American Group and Tiger Capital Group said that they’re helping debt-saddled Payless in the closing of 389 stores in the U.S. and Puerto Rico as the company begins the process of reorganizing and restructuring via Chapter 11. (In conjunction with its bankruptcy filing last week, Payless had said that it planned to close the underperforming stores in an effort to rightsize its fleet and prop up its balance sheet.)
“For bargain-conscious shoppers across the United States, the store closing sales represent a pragmatic opportunity to save a significant amount of money on a universal need,” Scott Carpenter, president of GA Retail Solutions, a division of Great American Group, said in a release.
During the store-closing sales, the companies said shoppers will find substantial markdowns on brands such as American Eagle by Payless, Christian Siriano for Payless, Airwalk, Dexter and Dexflex Comfort, as well as Brash. Kids’ brands include SmartFit as well as character shoes. (The stores are…