Home / Business / Payless Shoesource said it plans to close 400 stores nationwide immediately

Payless Shoesource said it plans to close 400 stores nationwide immediately

Two Quad Cities locations are on that list as well as another store located in Sterling, Illinois.
MOLINE, Ill. – Payless ShoeSource will be closing hundreds of stores after filing for bankruptcy.
It joins the store in the Kimberly Commons in Davenport and the location in Pine Tree Plaza in Sterling that will also close.
The store on Avenue of the Cities in Moline is set to shut down.
The company said it plans to close 400 stores nationwide immediately.

as declared in

Payless Shoesource files for Chapter 11, will close nearly 400 stores

Payless Shoesource

New term loan financing totaling $80 million will aid the company as it emerges from bankruptcy.
Payless has about 4,400 stores in more than 30 countries, the company said.
The company has entered agreements with certain existing lenders to gain access to up to $385 million of debtor-in-possession financing.
Payless Shoesource, the affordable family footwear retailer, announced Tuesday that it has filed for Chapter 11 bankruptcy in order to restructure its North American entities, as well as its Hong Kong-based logistics and supply chain entities.
The SPDR S&P Retail ETF is down 9.5% for the past year while the S&P 500 index SPX, -0.08% is up 14.2% for the period.

as declared in
Payless Shoesource

After months of speculation, Payless ShoeSource has filed for Chapter 11 protection.
The Payless ShoeSource in Oneonta isn’t among retailers set to close under the corporation’s bankruptcy filings, a company website said Wednesday.
Payless owns at least three other stores in Maine, including locations at the Bangor Mall, the Maine Mall in South Portland and on Main Street in Westbrook.
The discount shoe store will close about 400 stores in the USA and Puerto Rico and slash debt by nearly 50 percent.
Despite the closure of the Aliquippa store, customers can still shop at Payless locations in the Beaver Valley Mall, the Mall at Robinson and a store in Cranberry Township.

collected by :John Locas

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