Payless Confirms It's Closing All 2,100 of Its U.S. Stores and E-commerce

Payless ShoeSource confirmed reports Friday that it's closing its 2,100 stores in the U.S., including locations in Puerto Rico. The retailer, which was founded in 1956 in Topeka, Kan., said liquidation sales will start on Sunday and that its e-commerce operations are "winding down."There are 44 stores Payless stores in the Dallas-Fort Worth area. The company's spokeswoman wouldn't address reports quoting sources that Payless will file for bankruptcy less than two years after emerging from a court-protected reorganization.During its 2017 bankruptcy, Payless closed more than 2,000 stores. Since then, Payless has been owned by private equity firms Alden Global Capital, Invesco Senior Secured Management and Octagon Credit Investors.Payless said all stores will remain open until at least the end of March, and most will remain open until May. The company's website says it has 18,000 employees."This process does not affect the company's franchise operations in Latin America, which remain open for business as usual," the company said. Last May, Payless moved most of its corporate staff from Topeka to a downtown Dallas office tower, but the spokeswoman said the headquarters wasn't officially changed. Twitter: @MariaHalkias  Continue reading...

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