Payless reportedly latest big-name retailer headed for bankruptcy

Discount shoe chain Payless Inc. is apparently the latest high-profile national retailer headed for bankruptcy.

According to a Bloomberg report, the chain, based in Topeka, could file for bankruptcy as soon as next week, and will close between 400 and 500 stores as a result. Citing unnamed sources, Bloomberg said the company had originally planned to close as many as 1,000 outlets.

Which ”“ if any ”“ of those stores are in Fairfield or Westchester counties is uncertain. Payless”™ presence in the area includes stores in Bridgeport, Danbury and Trumbull, as well as in Mamaroneck, White Plains, Yonkers and Yorktown Heights. All told, the company has over 4,000 locations in 30 countries.

The Payless news follows by just a few days the parent company of Sears and Kmart saying that “substantial doubt exists” about its future as a business.