Payless closing 800 stores

PAYLESS IS GOING TO BE CLOSING MORE OF ITS STORES

(CNN) -More Payless Shoesource stores are closing.

The footwear company announced a second set of closings on Wednesday, bringing the total number to about 800.

It has nearly 4,500 locations world-wide.

It filed for chapter 11 bankruptcy in April and announced it was closing about 400 locations.

Business analysts say Payless is among the companies affected by on-line purchasing.

Two private equity groups bought Payless five years ago.

Categories: US News