Payless Shoes May Exit

Fortune Magazine says, another local store chain looks ready file bankruptcy protection in a brutal retail environment, as soon as next week. Payless Shoe Source is the company in trouble. As part of that restructuring, Payless would close as many as 500 stores, though it had considered shuttering up to 1000. Will it affect our local outlet? Not sure at this point. The prospect of a Payless bankruptcy is just the last bad news to buffet the retail world. Tuesday, Sears Holdings admitted there is 'substantial doubt' it can stay in business.