Payless ShoeSource begins liquidation sales

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Liquidation sales are underway at Payless ShoeSource.

The giant discount retailer announced that it plans to close all of its 2,100 stores in the U.S. and Puerto Rico.

Payless is just the latest brick and mortar retailer to fall victim to bankruptcy.

But here are some things to keep in mind if you want to cash in on the sales. Payless is no longer offering on-line sales. The website is directing consumers to their nearest store.

All stores are expected to remain open at least through the end of march. And possibly until may.

But don't wait to long before you start bargain hunting as inventory will dwindle as deep discounts progress.