Less than 18 months after exiting bankruptcy, Payless ShoeSource has reportedly lined up an advisor to help mull over strategic alternatives, including a possible sale.
According to a report from Reuters, citing people familiar with the matter, the affordable footwear retailer hired investment firm PJ Solomon as it continues to struggle amid digital disruption and seeks to avoid another bankruptcy. Payless is reportedly considering a restructuring or a sale, along with closing the doors of at least a third of its approximately 3,000 stores across the country.
The Topeka, Kan.-based company also hasnt ruled out filing for bankruptcy a second time, the report noted. Just four months after it filed, Payless managed to emerge from Chapter …
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