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Report: Payless ShoeSource to File for Bankruptcy, Shutter All Stores

February 15, 2019, 09:00 AM
Filed Under: Bankruptcy

The other shoe is about to drop for discount footwear retailer Payless ShoeSource Inc., which is reportedly preparing to file for bankruptcy this month, the second time since 2017.  

According to sources cited by Reuters, the company has been struggling to find a buyer, and will begin close-out sales at some of its roughly 2,300 locations as soon as next week. All location are ultimately slated for liquidation, Reuter said. 

 As ABL Advisor reported, Payless filed for Chapter 11 in April 2017.


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