Mar
21
Payless Is Said to Be Filing for Bankruptcy as Soon as Next Week
By-
Retailer plans to initially close several hundred stores
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Shoe chain has more than 4,000 locations in 30 countries
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…
Payless Is Said to Be Filing for Bankruptcy as Soon as Next Week
