Payless Shoe Source Prepares for Bankruptcy! Is This The End?!
Payless Shoe Source could be the latest mall store to shutter, according to CNBC. The chain could be filing its second bankruptcy in the weeks to come.
Part of the bankruptcy process is hunting for a buyer and selling off large blocks of its stores. If a buyer is not located, they may need to shut down the bulk of their stores in the United States.
Bankruptcy is nothing new to Payless. They filed in 2017 and closed up 400 of its stores. About 2700 stores are still in operation in the United States.