NEW: Retailer Payless to Close All 2,300 U.S. Stores, Including 20 in Southern N.E.

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Friday, February 15, 2019

GoLocalWorcester News Team

Payless ShoeSource is planning to close all 2,300 of its U.S. stores when it files for bankruptcy later this month, according to the Wall Street Journal.

The bankruptcy filing would be Payless’ second since April of 2017.

Payless was found in 1956 and employs nearly 18,00 people across the country.

According to Reuters, going-out-of-business sales could begin next week.

CNBC is reporting, "Shoppers didn't spend as much as expected this past holiday season. Holiday sales were up just 2.9 percent in 2018, the National Retail Federation said on Thursday, on the heels of the Commerce Department announcing retail sales for December fell 1.2 percent, the largest decline since September of 2009. NRF, the retail industry's trade organization, had been calling for 2018 holiday sales, those from Nov. 1 through Dec. 31, to rise between 4.3 and 4.8 percent."

Payless in MA

Payless has one location in Worcester, 20 locations in Southern New England and total of 18 locations in Massachusetts. 

Payless closed 11 Massachusetts stores after the 2017 bankruptcy filing.

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