The women’s comfort brand has pulled the trigger amid retail industry challenges.
If the company makes good on its plans, it will have shuttered 800 stores.
The retailer’s stock is taking a hit after the company didn’t meet Q1 expectations.
Department stores got rid of 600 jobs in April alone.
The retail industry lost nearly 30,000 jobs in March.
And, that’s becoming a huge problem for retailers.
Is the brand headed in a different direction?
The firm filed bankruptcy Friday.
The firm’s Q4 sales & profit were better than expected, but its outlook was a disappointment.
Several Payless agents & suppliers say their businesses could collapse if Payless shutters.