Payless Shoes Update

25 January 2017 

Administrators of Payless Shoes Pty Limited, Mr James Stewart, Mr Jim Sarantinos and Mr Peter Gothard of Ferrier Hodgson have advised that they have not received any acceptable bids for the business as a whole or for individual store locations. Accordingly, the Administrators have no option but to continue the controlled closure program for the entire business.

The majority of stores are expected to close by the end of February 2017 apart from the following stores whose last day of trade will be Saturday, 28 January 2017.

 State  Store
 New South Wales Ashfield 
  Campbelltown
  Baulkham Hills 
  Dubbo Central
  Moree 
  Bathurst 
  Carrum Downs
Victoria  Dandenong 
  Horsham
  Northland 
Queensland  Sunnybank Plaza 
Western Australia  Kwinana 
  Mirrabooka 

 

Mr Sarantinos said “Despite an extensive marketing campaign we have not received any acceptable offers that would enable us to sell all or part of the business.

This is understandably a very disappointing outcome for the business and its employees who have given loyal service to the business over a number of years.”

As a result of the store closure program a major stock realisation sale has recently begun. Significant discounts will continue for the remainder of the store closure program.

The closure of the Australian store network will ultimately result in approximately 750 redundancies across the business although the Administrators have advised that all outstanding employee entitlements will be paid in full.

Please refer to the following websites for updates throughout the Administration.

http://www.ferrierhodgson.com/

http://www.paylessshoes.com.au/

 

Please direct all media enquiries to:

Matt Francis
Newgate Communications Pty Limited
03 9611 1800
0467 777 220
matt.francis@newgatecomms.com.au

 

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