Payless bankruptcy may be imminent: Report

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Payless Inc. could file for bankruptcy as soon as this week, Bloomberg reported March 21, citing anonymous sources. The shoe chain is planning to initially close 400 to 500 stories as it reorganizes operations, according to Bloomberg. Last month, Bloomberg reported that Payless had wanted to shutter up to 1,000 locations. The total number of stores that could close is still being determined, Bloomberg noted. The company hired Guggenheim Partners and Kirkland & Ellis LLP to weigh options for the…


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