Your one stop shoe shop won't be around much longer. Payless ShoeSource is closing stores across the country as it prepares for it's second bankruptcy.
On February 15 Payless ShoeSource Inc said it would begin going-out-of-business sales at its U.S. and Puerto Rico stores, Reuters reports. The shoe store will also dial back its online operations. Stores should stay open until at least the end of March. Most locations will stay open up to May.
Payless had previously filed for bankruptcy in April of 2017. After 18 months and new ownership the company temporarily exited bankruptcy.
Nearly 2,300 stores will close when the company files for bankruptcy later this month. The Wall Street Journal said this may be the largest-ever U.S. retail liquidation. According to Payless' website the company employs more than 18,000 people worldwide.
A spokeswoman for Payless said “This process does not affect the company’s franchise operations or its Latin American stores, which remain open for business as usual.”
