Footwear retailer Payless ShoeSource files for bankruptcy as the brand closed 400 stores throughout the U.S. Known for its discounted footwear and velcro strapped in-house line, the 61-year-old brand followed suit with other mall brick-and-mortars such as J.C. Penney, The Limited, Sears, and Kmart as they closed its local outlets earlier this year. According to Reuters, "Existing lenders have agreed to provide up to $385 million in debtor-in-possession financing, allowing Payless to remain in bu...
Footwear retailer Payless ShoeSource files for bankruptcy as the brand closed 400 stores throughout the U.S. Known for its discounted footwear and velcro strapped in-house line, the 61-year-old brand followed suit with other mall brick-and-mortars such as J.C. Penney, The Limited, Sears, and Kmart as they closed its local outlets earlier this year. According to Reuters, "Existing lenders have agreed to provide up to $385 million in debtor-in-possession financing, allowing Payless to remain in bu...
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