(WIBW) – Payless ShoeSource plans to close all of its stores as part of a new bankruptcy filing later this month, according to Reuters
Sources told Reuters on Thursday that the Topeka-based company plans are second bankruptcy in two years, even if it continues to try to find a buyer.
Payless emerged from Chapter 11 bankruptcy in August 2017. In those proceedings, it closed around 700 stores, and laid off workers. It also reduced the company's debt from $ 850 million to just over $ 400 million. At the time, the company had approximately 800 employees at its Topeka world headquarters, but had laid off about 1[ads1]50 people in the eight months prior.
Reuters reports people familiar with the matter that the new filing would bring to the company's remaining 2,300 stores.
Two Topeka stores – on NW Topeka Blvd. and on Wanamaker Rd. – Close close sales and closed doors in recent months. Sources tell Reuters that Payless is preparing for out-of-business sales at the next week, 19659007 Payless was founded in Topeka in 1956 by cousins Louis and Shaol Pozez. In late 2017, current management announced its relate to relocates its much of its world headquarters operations, and by May 2018 confirmed the new location would be Dallas. sell the headquarters building at 3231 SE 6th Ave. So far, the company has not confirmed a buyer. A spokesperson for the firm action the auction duty 13 NEWS this week they did not yet have any information to share
Reuters reports its sources asked to not be identified, and Payless declined their request for comment.