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Payless Begins Shuttering Stores

Retailer has started liquidating assets



Yesterday Payless ShoeSource (Topeka, Kan.) began liquidating assets as it prepares for another possible bankruptcy filing. The retailer says store closures will not happen until at least the end of March, with the majority of closures in May. It will also wind down its e-commerce operations.

The brand has been seeking a buyer for some of its real estate in order to keep some of its stores open, according to CNBC. The company first filed for bankruptcy in April 2017, but has thus far emerged from its financial difficulties without completely collapsing, like other retailers such as Toys “R” Us.

The brand operates 2700 stores in North America and it does not plan for the liquidation to impact its Latin American stores, a spokesperson said.



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