Advertisement

Payless Will Close All Company-Owned Locations Amid Bankruptcy Filling

Paylesswill shutter all 2,100 company-owned stores in the U.S. and Puerto Rico, according to the Associated Press. The retailer also will wind down its e-Commerce operations, but franchise and Latin America locations will continue operating as usual.

The stores started liquidating on Feb. 17, with the company filing for Chapter 11 bankruptcy protection for the second time in three years. All will remain open until the end of March, with the majority remaining open until May. The company had reportedly been weighing its options for bankruptcy prior to the announcement.

Advertisement

Payless previously entered bankruptcy proceedings in April 2017. The chain emerged from bankruptcy that August with 3,500 stores (down from 4,400) after eliminating more than $435 million in debt.The retailer still has approximately $470 million in outstanding debt, according to the bankruptcy filing.

Featured Event

Join the Retail Trendcaster Webinar Series to uncover key 2025 retail trends, from AI and personalization to social commerce. Gain expert insights, data-driven predictions, and actionable takeaways to stay ahead in a rapidly evolving market.

Advertisement

Advertisement

Retail Trendcaster Webinar Series
Days
Hours
Minutes
Seconds

Uncovering What’s Next in Retail

March 17-19, 2025  |  Free On-Demand Digital Event

Q1 is a pivotal time for retail, with experts analyzing holiday sales and forecasting trends. Join Retail TouchPoints’ Retail Trendcaster webinar series for insights on consumer spending, AI, personalization, social commerce, and more—helping you focus on what truly matters in 2025.

Brought to you by
Retail TouchPoints
Register Now
Retail TouchPoints is a brand of Emerald X LLC. By clicking the button and submitting information, you acknowledge and agree that your information may be shared with corporate affiliates of Emerald X LLC, and other organizations such as event hosts, speakers, sponsors, and partners. Please read our Privacy Policy and our Terms Of Use for more information on our policies.

Access The Media Kit

Interests:

Access Our Editorial Calendar




If you are downloading this on behalf of a client, please provide the company name and website information below: