Payless plans to close all US stores amid reports of second bankruptcy

Local News
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Payless ShoeSource Inc. could be the latest brick-and-mortar store to fall victim to bankruptcy, according to multiple news outlets.

The company says it would close about 2,300 stores, Reuters reported on Thursday. 

It would be the company’s second bankruptcy filing in as many years, Bloomberg reported. The company declared bankruptcy in April 2017 and reemerged a few months later.

Payless representatives declined to comment for the Reuters and Bloomberg reports.

Founded in 1956, Payless has about 3,600 stores across the world.

The news for Payless comes as Sears and Kmart look to regroup under slimmer footprints and as Toys “R” Us and The Bon-Ton Stores closed within the last year.

Payless has unsuccessfully tried to find a buyer, according to Reuters.

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