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[$$] Steve Madden Faces Headwinds From Payless Bankruptcy

Ltd. said in its fourth-quarter earnings release that the Payless ShoeSource bankruptcy, which is culminating in the largest liquidation event in U.S. retail history, is a near-term challenge. Payless announced that it had filed for bankruptcy on Feb. 18. On the earnings call, Mr. Rosenfeld called Payless “a meaningful customer” for Steve Madden.