See What Will Happen Now That Payless Has Filed for Bankruptcy

TORONTO, ONTARIO, CANADA - 2016/02/28: Front entrance of Payless shoe store. Payless ShoeSource is an American discount footwear retailer headquartered in Topeka, Kansas. (Photo by Roberto Machado Noa/LightRocket via Getty Images)

See What Will Happen Now That Payless Has Filed for Bankruptcy

They're closing 400 stores in hopes to salvage the company.

Published April 6, 2017

Sad news for fans of affordable footwear: after filing for bankrupty this week, retailer Payless ShoeSource will close 400 of its stores in the U.S. and Puerto Rico. The closures are an attempt to salvage what's left of the business, and the company notes that it will increase its online presence. 

“This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify,” Payless Chief Executive W. Paul Jones said in a statement. “We will build a stronger Payless for our customers, vendors and suppliers, associates, business partners and other stakeholders through this process.”

This news follows suit with the fate of other lower price point retailers such as Wet Seal, Delia’s, Aeropostale and American Apparel, all of which have recently filed for bankruptcy. Pour one out for Payless. 

Written by Lainey Sidell

(Photo: Roberto Machado Noa/LightRocket via Getty Images)

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