Payless to file for bankruptcy, close 2,300 stores, according to report

Payless ShoeSource may be getting ready to close more than 2,000 stores.

Reuters reports the retailer plans to file for bankruptcy later this month. Going-out-of-business sales could start as soon as next week.



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Payless has been trying to find a new buyer. A group of creditors saved Payless in 2017, the last time the company filed for bankruptcy.

A Payless spokesperson released the following statement:

"Payless will begin liquidation sales at its U.S. and Puerto Rico stores on February 17, 2019, and is winding down its e-commerce operations. We expect all stores to remain open until at least the end of March and the majority will remain open until May. This process does not affect the Company's franchise operations or its Latin American stores, which remain open for business as usual."

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