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(From AFX Europe (Focus))
(AFX) - Wal-Mart Stores Inc. will end layaway service this year due to falling demand and rising costs, scrapping a tradition started when Sam Walton founded the chain in 1962 catering to cash-strapped rural shoppers in northwest Arkansas.
Wal-Mart said Thursday it will stop accepting layway items Nov. 19 with a pickup deadline of mid-December. In its layaway program, customers make a down payment to hold an item and then generally had up to 60 days to pay it off, with a shorter deadline in the peak Christmas season.
Layway is used mainly by people at the lowest end of the income scale, who don't have credit cards and may …