Payless eyes bankruptcy filing

Struggling discount shoe chain Payless Inc. is considering filing bankruptcy as soon as next week, people familiar with the matter told Bloomberg.

The company is planning to close 400 to 500 of its 4,000 stores, though the number may still be in flux.

Payless was bought by private equity firms Golden Gate Capital and Blum Capital Partners in 2012.

Read more from Bloomberg.

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