Payless ShoeSource Filing For Bankruptcy & Closing Nearly 400 U.S. Stores
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Heads up Payless Shoppers!
Payless ShoeSource just announced on Tuesday that they are filing for chapter 11 bankruptcy. This is due to a decline in foot-traffic in their stores.
“This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify,”
-Payless CEO W. Paul Jones
Payless also announced that it will close nearly 400 stores in the United States. It currently has more than 400 stores in over 30 countries.