Payless ShoeSource Closing All Stores
With more retail chains closing their doors seemingly everyday, it's no wonder Payless has announced the closing of all their stores.
Nearly two years ago, Payless announced that some 400 stores would close their doors for good as past of a debt restructure plan.
Back then the Massachusetts stores affected by the news were the Wareham Crossing location as well as the stores in Raynham, East Walpole, Kingston, Lanesboro, Millbury, Springfield, Sturbridge, West Boylston, Westford and Worcester.
Clearly the debt restructuring didn't go too well, cause the brand now says the rest of their stores must go as they file for bankruptcy later this month.
That means 2,300 Payless ShoeSource locations are going away for good.
As a mom who buys an awful lot of her kids' shoes from Payless, I am definitely bummed about this one.
The plan initially was to find someone to potentially buy the brand outright and turn the ship around themselves, but according to Fox Business that plan has fallen flat.
Now everything must go.
No word on how quickly stores will be closing up shop, but the company is currently preparing for liquidation.
So if you're in the market for new shoes, get yourself to a Payless stat!