tupungato/iStock(NEW YORK) — Payless Shoe Source will soon be closing the doors to all of its stores in the U.S. and Puerto Rico.
After filing for Chapter 11 protection less than two years ago, the discount shoe store chain is filing for bankruptcy again. In all, 2,100 stores will close and 18,000 employees will be out of a job.
The retailer has been affected by competition not only from online retailers like Amazon and Zappos, but also discount stores like DSW, Walmart, Kohl's and Marshall's.
Payless has already halted its online sales and begun its liquidation sale. Stores are expected to begin closing by the end of next month.
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