BREAKING NEWS: Payless Shoesource Closing ALL Stores
THIS JUST IN: More bad news for retail stores. On February 14, 2019, Payless ShoeSource filed for bankruptcy again and will close all 2,300 stores.
Payless Shoesource will close all of its U.S. stores, according to a Reuters report. Payless plans to file for bankruptcy, which is the second time in two years. The budget shoe chain has more than 2,700 stores across the U.S.
Attempts to find a buyer for the fledgling shoe store were unsuccessful, therefore they’re now planning to liquidate.
There is still a small chance a buyer could emerge after Payless files for bankruptcy, the sources said. In the meantime, the company is preparing to run going-out-of-business sales at its shops in the next week, one of the sources said.
Look for heavily reduced prices in the near future. While clearance sales are exciting, no one likes to see stores fail and its employees lose their jobs. Our hearts go out to Payless employees everywhere.