National shoe retailer, Payless, is prepping to go back to bankruptcy court again. But this time it could spell massive reductions, if not complete liquidation for the company. The news of the 2nd round of expected bankruptcy proceedings was reported by Bloomberg.
Right now the company is looking for a loan to pay for bankruptcy proceedings, and is planning to close most, if not all of its stores. Bloomberg says the company did not respond to a request for comment.
The company currently employs 18,000 people around the world, with 2,700 locations across the country. The company last filed for bankruptcy back in 2017.
For the Twin Tiers, two Payless locations may be affected. One store is located within the Arnot Mall, and the other is just a short distance away in Big Flats Consumer Square.
ORIGINAL STORY: Payless Prepares Second Bankruptcy With Store Closures