TOPEKA, Kan. (AP) - The failing Payless ShoeSource chain will honor gift cards and store credit until March 11 as the company liquidates all operations.
The Topeka, Kansas, company filed for bankruptcy protection last month.
Payless said that it received court approval to support the orderly closing of about 2,500 stores in the U.S., Puerto Rico and Canada, as well as its e-commerce business. It also received authorization to pay employee wages and benefits, as well as claims from critical vendors.
Retail operations outside of North America, including company-owned stores in Latin America, are separate entities and are not included in the bankruptcy filing.
Payless says it will start closing up stores at the end of March, but that most stores in North America will stay open until the end of May. Its 420 stores in Latin America, as well as 370 stores in the Middle East, India and other international locations, will remain open and continue to operate as usual.