Payless To Close All 2,300 Stores Amid Bankruptcy Plans: Report

Payless Shoe Closures — Payless will reportedly close all of its 2,300 stores as it files for bankruptcy in later this month. A young girl walks by with her new shoes at Payless ShoeSource on Nov.20, 2009 in Cincinnati, Ohio. Getty Images/Joey Foley

With plans in place to file bankruptcy later this month, Payless ShoeSource Inc. will close all of its store locations as it plans to liquidate, Reuters reported.

The discount shoe retailer will close all of its approximately 2,300 store locations, sources told the outlet. The company is said to be in the process of initiating a going-out-of-business sales in the next week.

Payless had been trying to locate a buyer for the sale of its company, but a deal has not been struck with any promising investor. The company has made the decision to move toward liquidation, hoping for a buyer to come forth after it files for bankruptcy, reports Reuters.

Payless filed for bankruptcy for the first time in April 2017, emerging from Chapter 11 a total of 18 months later.