Payless Shoe store looks to be the next company to bite the dust in the ongoing economic purge of retail stores across the Nation. According to reports, the struggling discount shoe chain is preparing to file for bankruptcy as soon as next week. Sources indicate that the company is initially planning to close 400 to 500 stores as it reorganizes operations. Payless had
originally looked to shutter as many as 1,000 locations, and the number may still be on target. Payless’s bankruptcy will add to a disastrous year in the retail industry, with several bankruptcies and hundreds of store closings. The Retail industry is working fervently to try to adapt to more online purchasing and a shift away from mall shopping.