Report: Payless to close all stores

U.S. & World

(WPRI) — A popular shoe store plans to file for bankruptcy and expects to close all of its stores.

According to a report from Reuters, Payless ShoeSource plans to file for bankruptcy for the second time and close its approximately 2,300 stores. There are 11 Payless locations in central Ohio.

The shoe company has been unsuccessful in trying to find a buyer, so they have decided to initiate preparations to liquidate.

The report says that the Kansas-based company is preparing for going-out-of-business sales in its shops next week.

Payless has declined to comment.

The shoe company previously filed for bankruptcy in April 2017 and exited about 18 months ago with about $400 million in loans.

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