On Wednesday, May 31, popular shoe retailer Shoe City is closing all 39 of its stores nationwide including four in Washington D.C
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 shoppers in Washington D.C. 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 Washington D.C. would close on May 31.
Four of the stores to close are in Washington D.C.
"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 Washington D.C
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.
- 717 H St NE, Washington, DC 20002
- 2851 Good Hope Rd SE, Washington, DC 20002
- 3935 Minnesota Ave NE, Washington, DC 20019
- 1060 Brentwood Rd NE, Washington, DC 2001
Shoe City is the latest retail chain to cease operations and shut down stores in the United States.
Bed Bath & Beyond, Tuesday Morning, and Party City have also filed for bankruptcy and announced they are closing all stores in the nation.
Do these store closures affect you? Are you concerned about the number of retail stores closing? Should the government offer more financial support for struggling businesses or laid-off workers? Do you fear we are heading towards a recession?
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