Payless ShoeSource Closing All Stores After Second Bankruptcy

Photo: Getty Images / Justin Sullivan

Payless ShoeSource is expecting to close the rest of its 2,300 stores after filing bankruptcy a second time within two years.

According to NJ.com, Reuters.com broke the news on Thursday (Feb. 14) afternoon.

Going out-of-business sales could start as early as next week, although it could be possible that the company finds a buyer after completing bankruptcy proceedings.

Back in April 2017, Payless declared bankruptcy and announced two big rounds of closures. Ownership at this point was assumed by Alden Global Capital.

After over a dozen stores in New Jersey closed, there are still several dozen that remain in Jersey.

Overall, Payless had about 4,400 stores before any of the closings occurred in 2017.

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