10 Footwear Retailers That Closed Since 1996: Payless, Olympia Sports and More

10 Footwear Brand Closures/Restructuring The table below summarizes the specific, researched reasons for the decline or closure of each entity.

Brand Primary Business Model Closure/Restructuring Year Key Contributing Factors Payless ShoeSource Discount Retailer 2019 Excessive debt, massive physical footprint, failure to invest in e-commerce, supply chain issues.

Kinney Shoes Retailer/Manufacturer 1998 Parent company (Woolworth/Venator) restructuring, shift in market demand toward specialized athletic retail. Footstar Retail Operator 2004 Accounting fraud, heavy reliance on Kmart partnership, decreasing sales.

Olympia Sports Sporting Goods Chain 2022 Liquidity crisis, intense competition from larger chains and direct-to-consumer (DTC) brands, post-pandemic challenges. Shoe City Regional Retailer 2023 Declining sales, inability to repay creditors, failed acquisition attempt…