Payless Shoe Store Closing 400 Stores- Files Bankruptcy

I saw this on the news last night and wanted to share it with you all. Payless shoe store is closing 400 stores after facing extreme competition with online retailers. Similar to the Children’s Place online shopping is coming in like a storm to these chain retailers.

payless shoe store closing

Payless filed a Chapter 11 reorganization petition in U.S. Bankruptcy Court in Missouri that said the company has as much as $1 billion in assets and up to $10 billion in liabilities, along with more than 100,000 creditors.

Read more here. 

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