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Payless closes all of its US stores



The discount shoes store will close all 2,100 sites in the United States and Puerto Rico in the coming months, CNN Business spokeswoman said. Liquidation sales will begin on Sunday, and stores will close in March, although most will say they will be open until May.

Payless also plans to close its online store. The company may file a bankruptcy application a second time before the end of the month, according to a report.

Payless, founded in 1956 in Topeka, Kansas, has more than 3,600 locations in 40 countries and over 18,000 employees, the site reports. The spokesman said his international franchises and Latin American stores would not suffer.

The company first filed for bankruptcy Chapter 1
1 in April 2017 and closed about 400 stores at that time. She reorganized and reduced millions of dollars in debt, but this was not enough to save the company.
  Charlotte Rousse filed for bankruptcy and close nearly 100 stores
For retailers usually try to use bankruptcy for reorganization. Often these companies soon end with another bankruptcy. Here's what happened with Gymboree and RadioShack.
Payless is the latest retail store that suffers from aging Amazon ( AMZN ) . R "Us, Brookstone and the Charlotte Russe clothing store. The online store has led to a drop in traffic in American shopping centers, which were a vital source of customers for shops such as Payless.

" The breakthrough rate in retail is widely recognized, Greg Portell, a partner at AT Kearney's consulting firm, told CNN Business. "Nevertheless, the pace of change within retailers continues to lag behind. Many retailers have been trapped in the continuing cycle of pursuing consumer trends … Without courage, the retail landscape will continue to be scattered through bankruptcy. "


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