Payless Could Close All North American Stores In Prospective Bankruptcy Proceedings

Payless is discussing plans to shutter a significant portion, or even all, of its North American stores as the retailer plans for another bankruptcy, people familiar with the situation told Bloomberg. A Payless representative declined to comment on the matter.

This would mark the second time Payless has entered bankruptcy proceedings in two years. The shoe retailer spent four months in a Chapter 11 bankruptcy in 2017, emerging in August. The restructuring process included the closure of 700 stores and elimination of more than $435 million in debt, and CEO Paul Jones retired after its completion. The chain currently operates approximately 3,600 outlets worldwide, with more than 2,700 in North America.


Payless is one of multiple retailers facing or emerging from bankruptcy in early 2019:

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