End Of The Road For Payless

Grind for February 18th, 2019
“We cannot direct the wind, but we can adjust the sails.”

– Dolly Parton

Another One Bites The Dust

The Headline

Payless Shoe Store bankruptcy expected to be largest retail liquidation in US history

The Grind

Fans of Payless Shoe Store will soon have to pay more for their favorite brands. As announced Friday, the budget shoe retailer will soon be closing all locations in the US and Puerto Rico.

Stores in Canada and Latin America will remain in business (for now).

The Details

At its peak, Payless Shoe Store was the largest footwear-specific retailer in the nation with more than 2,600 stores in the US and 22,000 employees working at nearly 4,500 locations throughout the world.

When Payless filed for Chapter 11 bankruptcy protection in April 2017, the company was over $1 billion in debt.

Factors in the decline include:

— Online shopping

— Decreasing mall traffic

— Heavy debt

— Unaffordable store leases

— Competition from rivals like DSW, Walmart, Kohl’s, and Zappos

Payless emerged from bankruptcy protection in the summer of 2017 after closing 400 stores and offering lenders debt forgiveness in exchange for equity stakes.

Unfortunately the reorganization wasn’t enough to save the company.

According to executives, going-out-of-business sales are expected to begin Sunday.

The More You Know

The Headline

For women, a heart attack may go unnoticed

The Grind

Retired cardiac-care nurse Robin Oliveira was shocked when a series of strange symptoms turned out to be a heart attack.

It occurred in June 2011 right after a workout. She was 56 years old, a non-smoker, and in excellent shape.

“I experienced a bizarre sensation of intense, full-body muscle fatigue,” writes Oliveira. “I broke into a bone-chilling sweat. My upper left arm throbbed…I was heaving for air at a rapid clip. I grew nauseated. A fist was pressing through my chest to my spine.

Her symptoms disappeared but returned in full force minutes later when she was driving.

The Details

Oliveira’s experience is a poignant reminder that heart attacks can happen to anyone. Your best defense is to know the symptoms and to seek help as fast as possible.

Studies suggest men are more likely to feel severe chest pain, while women are more likely to experience shortness of breath, fatigue, muscle weakness, pain in the arms, cold sweating, and nausea.

Women are twice as likely as men to die within one month of a heart attack and 50% more likely to die within the year.

Women also, take roughly 37 minutes longer than men to seek medical attention (probably because they misinterpret the symptoms).

“Keep in mind that most heart attacks are not as dramatic and intense as Hollywood would have us believe,” writes Dr. Brent Ridge. “Mild symptoms are the norm and often the reason that people fail to get timely treatment.”

Did you know… Wearing headphones for an hour increases the bacteria in your ear 700 times.