Payless ShoeSource Could Soon Close ALL Locations
Yet another retailer could be closing their doors. This time, all of them.
Two years ago, Payless ShoeSource closed almost 400 locations immediately when they announced a bankruptcy filing. Only two of those were in Iowa. It would be much different this time.
Payless is expected to file for bankruptcy for a second time later this month and when they do, they will close all the stores still open... nearly 2,300 of them. Cedar Rapids and Coralville still have Payless stores, as do many other cities in Iowa:
Going out of business sales could start as soon as next week at the stores, according to a Reuters source. Payless would not comment.
The first Payless bankruptcy came in April of 2017. They came out of that filing with half the debt, which was still $400 million. Payless has been unsuccessful finding a buyer since that filing and continues to look for one.