Payless Shoe Source to close 2,100 stores

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Payless store. Creative Commons photo.
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USA Today and other news outlets are reporting that Payless Shoe Source will close 2,100 stores in the U.S. after an earlier bankruptcy filing failed to lead to a turnaround of the retailers.

A mainstay in malls and strip centers in many communities,  Texas-based Payless has struggled to remain profitable in the lower priced segment of the shoe market as trendy  discount fashion retailers such as H&M expanded.

Payless has more than a half a dozen stores in Delaware.

The company is expected to launch liquidation sales that will continue into the spring.

The filing is expected to add to retail vacancy rates around the nation  and joins an array of other retailers that are shutting down or closing stores

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