As part of bankruptcy proceedings, Payless ShoeSource is expected to close all of its 2,300 shoe stores by the end of the month.
Discount shoe store chain Payless ShoeSource plans to close all of its U.S. locations when it files for bankruptcy later this month.
This is the second bankruptcy for the corporation since April 2017, at which time it closed 400 stores. The retailer currently has 2,300 remaining stores across the country.
If Payless can find a buyer for the entire company before the end of February, they may be able to avoid closure. Another option is finding buyers for large blocks of stores to alleviate some of the financial pressure.
But as no buyers have stepped forward as of yet, Payless stores are reportedly preparing for liquidation within the next week.
All information regarding the bankruptcy has come from anonymous sources. Payless has made no official comment as of yet.
What do you think about Payless's closure? I, for one, will be keeping an eye on "going out of business" sales over the next week. I'm sad to see this one bite the dust. Tell us your thoughts in the comments below!