Payless Shoesource is no more and this time losing at least four hundred stores. According to the Kansas based retailer, they’re preparing to close hundreds of stores amid a final hope to reconstruct the business amid a bankruptcy filing.
According to documents obtained by The Daily News, the documents are asking a court to approve Chapter 11 bankruptcy protection amid plummeting sales and declining foot traffic in its stores.
Meanwhile, Payless joins The Limited; Wet Seal, and numerous other retailers scheduled to sell off stores or entirely go out of business.