Report: Payless to close all stores

National

(WPRI) — A popular shoe store plans to file for bankruptcy and expects to close all of its stores.

According to a report from Reuters, Payless ShoeSource plans to file for bankruptcy for the second time and close its approximately 2,300 stores.

The shoe company has been unsuccessful in trying to find a buyer, so they have decided to initiate preparations to liquidate.

The report says that the Kansas-based company is preparing for going-out-of-business sales in its shops next week.

Payless has declined to comment.

The shoe company previously filed for bankruptcy in April 2017 and excited about 18 months ago with about $400 million in loans.

Copyright 2019 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Now Trending on KRQE.com

Weather

More Video Forecast

Don't Miss

More Don't Miss