Thread regarding Payless Shoes layoffs

In every article that I read on the liquidation it’s mentioned that one of the main factors that contributed to the company’s demise is the emerging of a strong competition on the market and that the big players like Walmart and Amazon entered the market. Those statements may hold some truth, but nobody can say that there wasn't enough time or resources to reinvent the company and align the business with the market demands and trends. We failed to do that and we can’t fault anyone but our management. We fell down without a fight.