Payless prepares to file for second bankruptcy, could close stores
Payless ShoeSource is preparing for its second bankruptcy, according to CNBC.
Payless filed for bankruptcy protection in April 2017 and closed nearly 400 stores.
As part of the process, Payless now has to find for buyers for its entire real estate in order to stay afloat. This could include selling large blocks of stores in certain areas of the country.
It the company doesn’t find buyers, Payless may have to close down a majority, if not all, of its stores nationwide. According to its website, the retailer currently has more than 2,700 North American stores, according to its website.
There’s no word on whether any of the Colorado locations will be affected.
To learn more about the bankruptcy claim, click here.
