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Payless Shoes to close all US stores and online operations



Payless ShoeSource, once a popular seller of cheap women's footwear and staples in many suburban malls, shuts down all American business.

The company said it would liquidate all 2,100 of its businesses in the United States and Puerto Rico on Saturday. Payless is also hiring the online business.

The retailer, which had filed for bankruptcy two years ago, had closed hundreds of stores in recent years as its brand lost glamor among women looking for shoes for footwear. It is the youngest retailer in the mass market that has disappeared from the retail landscape.

The liquidation of Payless, headquartered in Topeka, Canada, is another example of how bankruptcy helped retailers reduce debt, but did not help many of them restructure their businesses and restore their revenues.


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