Payless Shoes administrators have announced the closure of all 132 stores nationally.
Administrator Jim Sarantinos confirmed the closure on December 14.
“While we received a number of expressions of interest from various parties, there were no acceptable offers for the business as a whole.”
As closures roll out, administrators will continue to work with interested parties and landlords to transfer stores and employee contracts where possible.
Approximately 730 staff may be impacted, with all stores anticipated to be transferred or closed sometime in February, 2017.
“We would particularly like to thank the Payless Shoes employees for their support during the administration process," Sarantinos said.
All employee entitlements will rank as priority unsecured claims and are expected to be paid in full.
Employees across head office and stores have been briefed today, and will be provided with appropriate support by the administrators.