Payless is shuttering a sizable number of their stores.
The company, which was founded in 1956, will be closing down all 2,100 of their stores in the U.S. and Puerto Rico beginning in March, a spokesperson said, per CNN Business. Payless has more than 3,600 locations worldwide and over 18,000 employees. The company's online store will also be shut down. Liquidation sales will start this coming Sunday.
"We expect all stores to remain open until at least the end of March and the majority will remain open until May," the company said via a statement, per USA Today. "This process does not affect the company’s franchise operations or its Latin American stores, which remain open for business as usual.”
The Wall Street Journal reports that the company is getting ready to file for bankruptcy. The discount shoe retailer previously filed for Chapter 11 bankruptcy in April 2017 and subsequently closed about 400 of their locations.
It looks like Payless' marketing scheme to trick influencers into thinking the brand sold luxury shoes wasn't enough to save them from their current predicament.