Payless Closing All U.S. Stores

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Payless' store closures follow bankruptcy filing in 2017.

Following in the footsteps of other popular retailers like Toys 'R' Us and Sears that once ruled mall and department-store shopping, Payless ShoeSource is shrinking its footprint in the U.S. 

The latest round of closures will shutter all 2,100 locations in the U.S and Puerto Rico, confirmed the company, adding that the liquidation sales would begin Sunday. It will also wind down its e-commerce operations.

"We expect all stores to remain open until at least the end of March and the majority will remain open until May," a company spokesperson told TheStreet in an email. 

The store closings will not affect the company's franchise operations or its stores in Latin America, said the spokesperson, adding those will "remain open for business as usual."

Prior to the current store closings, Payless had 3,500 stores that employed 18,000 people in more than 40 countries, according to the company in September.

Payless Holdings had filed for Chapter 11 bankruptcy in April 2017 in the Eastern District of Missouri, and has been shutting shops since.

The budget shoe retailer just recently made headlines when in November it set up a prank luxury shop called Palessi in Santa Monica.

Payless was founded in Topeka, Kansas in 1956.

This story has been updated.