Payless Planning To Close Thousands Of Stores

BALTIMORE (WJZ) -- The shoe retail store, Payless, has said that it plans on closing thousands of its stores across the country.

This could be the largest liquidation of any retail store.

The announcement from Payless comes less than two years after it had filed for bankruptcy.

The store emerged from bankruptcy protection 18 months ago. It reportedly had nearly $400 million in unpaid loans.

Payless has been upended by online shopping, with consumers going to places like Amazon.

The store says that it plans to start running going out of business sales next week.

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