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Payless Shoes Files For Second Bankruptcy

Source: Justin Sullivan / Getty

Payless Shoe Stores is closing all 2,100 of its U.S. stores and in Puerto Rico, with closures beginning in March. The company expects that all stores will be closed by May of this year.

The company was founded in 1956, but filed for Chapter 11 bankruptcy in April 2017, which led to the closure of some 400 locations. With hopes of re-structuring failing, the company will be filing for bankruptcy yet again.

In addition to the 2,100 stores, they will be closing their online store as well. Liquidation sales will start this coming weekend. Unaffected? Their franchise operations and its stores in Latin America, which will remain open.


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