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Discount chain Payless enters bankruptcy, will close 400 stores

Published Wed, Apr 5, 2017 · 09:50 PM

New York

PAYLESS Inc, the discount shoe seller, filed for bankruptcy with a plan to slash debt by almost 50 per cent as the retail spiral persists.

Payless listed liabilities of US$1 billion to US$10 billion in Chapter 11 documents filed Tuesday in St Louis bankruptcy court. The chain said in a statement that its restructuring proposal has the support of investors holding about two-thirds of its first-lie…

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Companies & Markets

Discount chain Payless enters bankruptcy, will close 400 stores

Consumer & Healthcare

Marina Bay Sands Q1 profit surges 51.5% to US$597 million on tourism boom

Swiss watch exports plunge as China and Hong Kong demand dries up

Cutting the cord?: Events leading up to Cordlife’s MOH suspension and arrests of its directors, ex-group CEO

Billionaires selling cheap stuff get richer from inflation pain

Amazon to push cashierless shopping tech into more third-party stores, while backing off itself

Japan’s Uniqlo opens Rome store as part of European expansion

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