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FILE PHOTO: A Payless ShoeSource store logo is shown in the Manhattan area of New York, New York, USA, April 4, 2017. REUTERS / Carlo Allegri / File Photo
(Reuters) – Payless ShoeSource Inc, a US retailer of discount equipment, announced Friday the start of the sale of its US stores and Puerto Rico starting Feb. 17 and the termination of its online business.
Payless expects all stores to remain open at least until the end of March and the majority will remain so until May, said a company spokeswoman in a statement. E-mail.
Reuters announced Thursday that the company plans to close all of its nearly 2,300 stores when it will file for bankruptcy later this month for the second time in as many years.
"This process does not affect the company's franchise business or its stores in Latin America, which remain open as usual," the spokeswoman said.
Report of Saumya Sibi Joseph in Bengaluru
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