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Westlaw News

Bankrupt retailer Payless looking at sale of Latin America business

Bankrupt discount footwear chain Payless Holdings LLC is mulling a sale of its Latin America business as it shutters its 2,400 stores across North America, according to court papers seeking an order approving a bonus plan for three top executives.

Payless in the papers filed on Tuesday in U.S. Bankruptcy Court for the Eastern District of Missouri said it wants to set aside roughly $1.4 million for bonuses for the three executives to spur their work in its Chapter 11 bankruptcy.

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