As we broke last week about Payless; it’s official today!

Dive Brief:

  • Footwear retailer Payless ShoeSource is set to shutter all of its 2,300 or so locations as it enters its second bankruptcy in less than two years, unnamed sources told Reuters on Thursday.

  • The retailer has failed to find a buyer and plans to liquidate, according to the report. Payless didn’t immediately return Retail Dive’s request for comment.

  • The discount shoe company spent last year closing down some stores and cutting jobs at its headquarters after emerging from bankruptcy late in 2017. That plan was agreed to by lenders, which now largely own the company.

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