Payless Might Close 1,000 Stores

Another group of retail stores could be on the chopping block.

Payless ShoeSource, known to most us as the discount shoe retailer Payless, might close 1,000 of its nearly 4,400 worldwide stores (3,600 are in North America) as it works through a debt restructuring plan.

If things don’t work out with their creditors, they might file for bankruptcy.

Payless apparently has around $655 million in debt.  They’ve already laid off 160+ employees: most of which worked at their corporate office in Topeka, Kansas.

Source: Business Insider

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