Payless Shoesource, the U.S.-based footwear retailer, has filed for Chapter 11 bankruptcy. This is not a big surprise after several reports of late payments earlier in the year. Panjiva data shows its U.S. imports dropped 18% in the quarter to March 30 on a year prior, which followed its lowest month of imports since February 2012 in October. Supply chain visibility is limited, with 98% of its imports coming from the wholly-owned subsidiary Collective Brands in Hong Kong. That likely relates to centralized buying from manufacturers in Guangdong and Guangxi in China, the former being the ...