Payless ShoeSource to close all its U.S. stores, per report

Stefani Bishop  TSM

Stefani Bishop TSM

On the heels of learning Dillard's in Boardman is closing, a report out Thursday said all Payless ShoeSource stores will be on the chopping block.

Payless Inc.is liquidating its US and Puerto Rico stores and shutting down its online operations as the upheaval in the retail industry claims its latest victim.

Reuters reports the discount retailer plans to close all of its approximately 2,300 stores and file for bankruptcy later this month. Liquidation sales could begin as soon as next week, according to Reuters. "We expect all stores to remain open until at least the end of March and the majority will remain open until May".

It would be the second time the company has filed for bankruptcy.

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Payless' online retail operations are already closed, though customers can still use the website's store locator app. The company has been trying to find a buyer, but attempts have been unsuccessful. A company spokesperson confirmed the closure with the news outlet, saying liquidation sales will start on Sunday.

The iconic footwear company was founded in 1956 by two cousins in Topeka, Kansas.

Payless now has more than 2,700 North American stores, according to its website.

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