Payless Closing All Stores
Payless announced over the weekend that its remaining 2,100 stores in the United States and Puerto Rico will be closing along with its online retail chain. Majority of its stores will remain open until the end of May as liquidation sales have already begun. According to the Associated Press, the company says that the liquidation doesn’t affect its franchise operations or its Latin American stores.
In 2011, Payless filed for Chapter 11 bankruptcy. Although the company eliminated hundreds of stores in addition to more than $435 million, it still wasn’t enough to keep the company thriving in the US. Payless closing is the biggest closing by a single retailer chain this year.