Payless Expected to Shut Down All U.S. Locations by the Start of Summer

Beloved discount footwear retailer Payless Shoesource was all fun and games back in December when the brand’s viral “Palessi” prankfooled L.A. influencers into purchasing $20 shoes for upwards of $600, but now it unfortunately looks like the brand is in a situation that’s no laughing matter. According to reports by multiple news outlets, Payless has confirmed that the company will be closing 2,100 stores in the U.S. and Puerto Rico, with liquidation sales already starting at stores nationwide.

Here’s what the official reports are saying, via CNN:

“Payless also plans to shut down its online store. The company could file for bankruptcy for a second time by the end of the month, according to reports.

Founded in 1956 in Topeka, Kansas, Payless has more than 3,600 locations in 40 countries and over 18,000 employees, according to its website. A spokeperson said its international franchises and Latin American stores will not be affected.

The company first filed for Chapter 11 bankruptcy in April 2017 and closed roughly 400 stores at that time. It reorganized and cut millions of dollars in debt, but that doesn’t appear to have been enough to save the company.”

While most stores are expected to stay open until May, a few stores will begin closing as soon as March. Many people aren’t too thrilled about the news, either. See some of the saddest reactions, realizations and downright resistance against the Payless shutdown below:

My kids won’t ever know what Payless is wow

— Miajah Simone

👽
(@MISIDET) February 16, 2019

If Payless closes where the hell is everyone who only goes to church on Easter suppose to get their shoes

— Nik (@Lenardthagod) February 15, 2019

1st Toys r Us and now Payless!!

😣 #theMadnesspic.twitter.com/uvYxvrdHkr

🌹

💋

Basic bihh Alisha

💋

🌹
(@ElishaBenson4) February 17, 2019

I am legitimately sad about Payless. Half of the shoes I own are from there…because I’m cheap and fabulous.

— Amanda Palumbo (@amandapalumbo) February 16, 2019

R.I.P. Payless — let’s hope your fate is similar to that of Toys R Us: short, brief and back in no time. Unfortunately though, we don’t see this one ending on a similar note. Let us know your thoughts over on Twitter and Facebook!

The post Payless Expected to Shut Down All U.S. Locations by the Start of Summer appeared first on The Source.

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