Payless may file bankruptcy and shutter up to 500 stores

Last year, Payless, the discount shoe retailer, openly discussed its struggles to compete with e-commerce rivals and saw a possible solution in opening larger Super Stores offering deeper inventory and an enhanced customer experience. But those plans have not panned out and the company is reportedly on the verge of filing for bankruptcy protection, possibly a necessary move in order to close up to 500 of its stores.