UPDATE: B/CS Payless Shoe Stores Remain Open After Company Files For Bankruptcy Protection

Update:

Payless shoe stores in Bryan, College Station, and Brenham are not on the list of nearly 400 stores that are closing after the company filed for Chapter 11 bankruptcy protection.

The list includes more than 60 locations in Texas.

Click HERE to read the list from the website paylessrestructure.com

Original story:

NEW YORK (AP) _ Shoe chain Payless ShoeSource is filing for Chapter 11 bankruptcy protection, becoming the latest retailer to succumb to increasing competition from online rivals like Amazon.

The Topeka, Kansas-based retailer said Tuesday that it will be closing nearly 400 stores as part of the reorganization. It has over 4,400 stores in more than 30 countries and was founded in 1956.

Payless plans to reduce its debt by almost 50 percent, lower how much it pays in interest and line up funds. The company says some of its lenders have agreed make available up to $385 million to keep the stores running.

Screen shot from paylessrestructure.com
Screen shot from paylessrestructure.com

More News