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  7. Payless in talks over restructuring plan

Payless in talks over restructuring plan

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11 Feb 2017 12:40 #335028 by chairman
Payless Inc. is in talks with its lenders over a restructuring plan that includes closing about 1,000 stores as it wrestles with an unsustainable debt load, according to people with knowledge of the matter.

The discount shoe retailer may consider filing for bankruptcy if it’s unable to reach a deal with the creditors, said the people, who asked not to be identified because the information isn’t public. A decision on whether to restructure in or out of court may be reached as soon as this month, they said.

The chain has hired Guggenheim Partners to help in the effort, the people said. Guggenheim declined to comment, as well as Payless.
Always tell someone how you feel because opportunities are lost in the blink of an eye but regret can last a lifetime.
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