Payless ShoeSource is shuttering all of its 2,100 remaining stores within the U.S. and Puerto Rico, becoming a member of a listing of iconic names like Toys R Us and Bon-Ton which have closed down within the final yr.
The Topeka, Kansas-based chain mentioned Friday it can maintain liquidation gross sales beginning Sunday and wind down its e-commerce operations. All of the stores will stay open till no less than the tip of March and the bulk will stay open till May.
The debt-burdened chain filed for Chapter 11 chapter safety in April 2017, closing a whole bunch of stores as half of its reorganization.
At the time, it had over 4,400 stores in greater than 30 international locations. It remerged from restructuring 4 months later with about 3,500 stores and eradicated greater than $435 million in debt.
The firm mentioned in an electronic mail that the liquidation would not have an effect on its franchise operations or its Latin American stores, which stay open for enterprise as standard. It lists 18,000 workers worldwide.