Say goodbye to those buy-one-get-one shoe deals: Payless ShoeSource is declaring bankruptcy and closing all of its stores, according to various media reports on Friday.
The closure includes the two remaining Payless locations in San Luis Obispo County: one in the San Luis Obispo Promenade off Madonna Road and the other in Paso Robles at the Woodland Plaza on Niblick Road.
USA Today first reported on the closures Friday evening. A company spokesperson confirmed the closure with the news outlet, saying liquidation sales will start on Sunday.
“We expect all stores to remain open until at least the end of March and the majority will remain open until May,” the company said in a statement to USA Today. “This process does not affect the company’s franchise operations or its Latin American stores, which remain open for business as usual.”
The Wall Street Journal reported that the company is shuttering 2,100 U.S. locations as it prepares to file for Chapter 11 bankruptcy protections. The newspaper attributed the closures and bankruptcy to declining sales.
This isn’t the first time Payless has closed local stores amid a bankruptcy: the Arroyo Grande location in the Five Cities Center suddenly closed in 2017 when the company filed for Chapter 11. The store is now a Blaze Pizza.