LAKEWOOD, Colo.-- Dozens of major store chains are closing hundreds of stores in part because so many of us are shopping online.
We assume store closings sales mean a big discount, but if you’re not careful, it can actually cost you.
Sears, Macys, JC Penney, GameStop, and Radio Shack are just a few of the retailers closing at least some stores across the country.
The Payless in Lakewood is one of three Colorado locations closing, and when the store liquidates, everything inside must go.
When you see big discount signs across the storefront, you may think you’re getting a pretty big deal, but that’s not always the case.
“It’s shoes! And they’re having a store closing. Why not come for all the shoes,” said Selene Lynch.
Lynch works in retail and realizes these close-out sales can be a little deceiving.
In some cases liquidation companies come in and jack up the price, and then reduce the price so it looks like a discount.
Nicole Tarrant found the same thing at this Payless.
“It’s not anything I thought it would be. Everything is full price and they just took a few dollars off, but you can get better brands at better stores,” Tarrant said.
Buying during a liquidation can also mean no protections on your purchase.
"Take a really close look at the merchandise, make sure it works, make sure the packaging isn’t broken. Take a look at the refund polices," said Sandra Guile with the Better Business Bureau.
The BBB says before you shop at a liquidation, ask what happens if your purchase is defective.
And if you have a gift card but a store closes before you can use it, the money is lost.
You can get a good deal when a store closes, but just be aware of what you’re getting yourself into.
Your best chance for the biggest markdown is at the end of the liquidation.