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Thank you. From Wondry, I'm David Brown, and this is Business Wars Daily. Happy Friday, everyone.

A few months ago, Pay Less, the discount shoe store chain produced an elaborate stunt that went viral.

It created a fake boutique called Palesi, and it used it to convince social media influencers and purportedly shoe shoppers everywhere

that a $30 discount shoe is as attractive and well made as designer footwear sold for hundreds of dollars.

Well, Palesi made headlines and a lot of laughs, but it apparently didn't convince the shoppers who

matter. Payless filed for Chapter 11 bankruptcy protection on Monday. By May, it will close 2100 locations

in the U.S. and Puerto Rico.

About 16,000 workers will lose their jobs.

Payless owes $1.3 million in severance to workers laid off before this new filing, and according to CNN, has said it doesn't know whether it'll be able to come up with the money.

That obviously puts severance for the

16,000 workers in jeopardy. This is the company's second trip to bankruptcy court. It filed for

...