PAYLESS TO FILE BANKRUPTCY NEXT WEEK, PLANS TO CLOSE 400 TO 500 STORES

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( Bloomberg ) Payless Inc., the struggling discount shoe chain, is preparing to file for bankruptcy as soon as next week, according to people familiar with the matter.

The company is initially planning to close 400 to 500 stores as it reorganizes operations, said the people, who asked not to be identified because the deliberations aren’t public. Payless had originally looked to shutter as many as 1,000 locations, and the number may still be in flux, according to one of the people.

 

READ MORE: Payless Is Said to Be Filing for Bankruptcy as Soon as Next Week

 

 

 

2 thoughts on “PAYLESS TO FILE BANKRUPTCY NEXT WEEK, PLANS TO CLOSE 400 TO 500 STORES

    Brittius said:
    March 22, 2017 at 8:43 am

    Reblogged this on Brittius and commented:
    Cheap Chinese shoes that break in a couple of weeks. Maybe some US manufacturers will fill the void with higher priced but excellent quality footwear.

    Like

    larryzb said:
    March 22, 2017 at 5:49 pm

    It is sad that many workers will be let go when the stores close.

    Like

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