Discount shoe chain Payless ShoeSource will declare bankruptcy later this month and plans to close all of its 2,300 stores, according to published reports.

The chain has a location inside Big Creek Crossing, 2918 Vine, in Hays. 

Going-out-of-business sales will begin next week, according to the Reuters news service, citing sources.

Sources within the company said there is a slim chance a buyer could emerge and rescue the company.

This is Payless' second bankruptcy. In April 2017 it used bankruptcy to slash $800 million in debts, emerging 18 months ago under the control of its creditors, including the hedge fund Alden Capital LLC.