Popular shoe retailer Shoe City is closing all 39 of its stores nationwide including five in Virginia on Wednesday May 31.
After several years of poor performance, popular shoe retailer Shoe City will be closing its doors on Wednesday, May 31.
All items are discounted with savings of 50-70%. Let's take a quick look at the story and where savvy Virginia shoppers can find a last-minute deal.
So Long Shoe City
Shoe City is a family-owned business founded in 1949 in Maryland as Eileen Shoes.
In 1980 it rebranded to Shoe City. It enjoyed a few decades of success before hitting some financial difficulties.
The shoe giant "incurred consecutive operating losses of $280,000 in the 2020 fiscal year and $ 1.76 million in the 2021 fiscal year."
Last year it was reported that Athletes Foot was interested in acquiring the struggling business, but this didn't eventuate. Shoe City filed for bankruptcy in April and announced that all 39 of its stores across Maryland, Virginia, and D.C. would close on May 31.
Five of the stores to close are in Virginia.
"Unfortunately, after 74 years in business, the Shoe City legacy has come to an end," Attorney Stanley W. Mastil, the Chief Restructuring Officer in a bankruptcy filing.
Shoe City "employed 161 full-time employees and 233 part-time employees. About 61 employees worked at the corporate office or warehouse locations." It has yet to be reported what assistance these employees will receive.
Shoe City Stores in Virginia
All stores will close by May 31st and are offering reductions of up to 70% off original prices on the entire stock of athletic footwear and apparel.
- 11500 Midlothian Turnpike, Richmond, VA 23235
- 230 Southpark Cir, Colonial Heights, VA 23834
- 4740 South E Southside Plaza, Richmond, VA 23224
- 4501 S Laburnum Ave, Richmond, VA 23231
- 3091 Mechanicsville Turnpike, Richmond, VA 23223
Shoe City is the latest retail chain to shut down stores in Virginia.
Bed Bath & Beyond and Tuesday Morning have also filed for bankruptcy and announced they are closing all stores in the nation.
Your thoughts
Do these store closures affect you? Are you concerned about the number of retail stores closing in Virginia? Should the government offer financial support for struggling businesses or laid-off workers? Do you fear we are heading towards a recession?
Please leave your thoughts in the comment section below and share this article on social media and with others so more people can join the discussion.
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