But a family in Arkansas is using the bankruptcy as a way to pay it forward.
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Carrie Jernigan says she took her kids to the mall back in May to buy them some shoes.
When her oldest daughter saw a pair of Avengers sneakers, she told her mom about a boy in her class who loved the Avengers and had shoes that were too small for him.
So she asked her mother if she could buy them for her classmate.
And Carrie says that question got her thinking.
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"As I was checking out, I just said 'how much for the rest of the shoes in the store?' Almost joking and I could see the clerk, her face, her wheels start to turn and she finished checking me out. She said, 'can I have your number?'" said Jernigan.
Later that day, Carrie received a call from the Payless district manager telling her she could buy out the rest of the store which was already in liquidation due to the bankruptcy.
She ended up with 1,500 pairs of shoes.
The family plans to throw a "back to school" party so that every child will have a new pair of shoes for the new school year.