Retail News

Payless may close 1,000 stores

Bloomberg/Lowell Sun 02/12/2017

The discount shoe retailer is reported to be in talks with lenders over a restructuring plan that would include the company closing about 1,000 of its stores. Payless, which was acquired by private equity firms Golden Gate Capital and Blum Capital Partners in 2012, has been looking at ways to get out from under the $600 million in debt it is carrying.

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