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Home / Business / Payless filed for bankruptcy and said it will close 2500 stores | Retail

Payless filed for bankruptcy and said it will close 2500 stores | Retail



Payless ShoeSource filed for bankruptcy Monday and said it will close 2500 stores in North America, up from 2100 previously reported. Large liquidation plans remain the same, and some places close in March, and most stores remain open until May.

Original story published Friday. February 15th.

Payless ShoeSource confirmed reports Friday that it closes its 2,100 stores in the United States, including locations in Puerto Rico.

The dealer, founded in Topeka, Kan., In 1956, says liquidation sales will start on Sunday, and the e-commerce business is "winding".

There are 44 stores Payless stores in the Dallas-Fort Worth area.

The company's spokeswoman would not address reports indicating sources that Payless will bring to bankruptcy less than two years after it comes from a court-based reorganization.

During the bankruptcy in 201

7, Payless closed more than 2000 stores. Since then, Payless has been owned by private equity companies Alden Global Capital, Invesco Senior Secured Management and Octagon Credit Investors.

Payless said that all stores will remain open until at least the end of March, and most will remain open until May. The company's website says it has 18,000 employees.

"This process does not affect the company's franchise operations in Latin America, which are still open to business as usual," the company said.

In May, Payless moved most of the company's employees from Topeka to the Dallas Center Office Tower, but spokeswoman said headquarters was not officially changed.

Twitter: @MariaHalkias


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