Payless files bankruptcy, plans to close 400 stores

Posted online April 5, 2017 | 11:44 am

Payless ShoeSource yesterday filed Chapter 11 bankruptcy with less than $1 billion in assets and $10 billion in liabilities.

The company plans to immediately close 400 stores in the United States and Puerto Rico. It operates over 4,400 stores in 30 countries employing 22,000.

More store closures are planned.

Read more from AOL.

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