Payless ShoeSource to Close All Remaining US Stores

Payless Shoe Source store Mount Laurel New Jersey USAVarious America

According to Reuters, discount retailer Payless is set to close all 2,300 of its stores nationwide.

Payless ShoeSource also filed for bankruptcy in 2017, a move that at that time resulted in the closing of 673 stores.

On Friday, the chain said it will hold liquidation sales starting Sunday and wind down its e-commerce operations.

Jeffords said the liquidation does not affect the company's franchise operations overseas or its Latin American stores, which remain open for business as usual.

Payless was founded in Topeka, Kansas in 1956 and employees 18-thousand people globally.

Payless like so many other brick and mortar stores are being boxed out as more shoppers turn to online retailers like Amazon.

The report mentioned that there is still a small chance the company could be bought after the bankruptcy filing. The company also noted that it had over 3,500 stores in 40 different countries, and nearly 18,000 employees worldwide.

Toys "R" Us and The Bon-Ton Stores are among the retailers that have disappeared from the retail landscape in the last 12 months. "Without bold action, the retail landscape will continue to be scattered with bankruptcies".

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