The discount shoe store will close all 2,100 of its locations in the United States and Puerto Rico in the coming months, a spokesperson told CNN Business on Friday. It said liquidation sales begin Sunday and the e-commerce operations will start "winding down". "We expect all stores to remain open until at least the end of March and the majority will remain open until May".
The Salina store will remain open until May, or until whenever its inventory is liquidated, whichever comes first.
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Payless had previously filed for bankruptcy in April of 2017. It lists 18,000 employees worldwide. At one time Payless had 4,400 stores. Heavy debt loads have also handcuffed retailers, leaving them less flexible to invest in their businesses. The company is shutting down all 21-hundred-stores in the USA and Puerto Rico. Retailers including Shopko, FullBeauty Brands, Charlotte Russe, Things Remembered and Gymboree have filed for bankruptcy this year.
Payless was founded in 1956 by two cousins, Louis and Shaol Lee Pozez, to offer self-service stores selling affordable footwear.