Payless ShoeSource to shutter all of its remaining US stores
NEW YORK (AP) – Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico, joining a list of iconic names like Toys R Us and Bon-Ton that have been shuttered in the last year.
The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All stores will remain open until at least the end of March and the majority will remain open until May.
The debt-burdened chain filed for Chapter 11 bankruptcy protection in April 2017, closing hundreds of stores as part of its reorganization.
At the time, it had over 4,400 stores in more than 30 countries. It reemerged from restructuring four months later with about 3,500 stores and eliminated more than $435 million in debt.
By ANNE D’INNOCENZIO, AP Retail Writer