Payless says it could close another 408 stores

Gladys Abbott
June 1, 2017

Locally, the Payless stores in Ozark and Osage Beach, Missouri, and the stores in Harrison and Berryville, Arkansas, will close.

For now, the four Payless ShoeSource stores in Springfield are not on the closure lists.

Back in early April, the company announced closings in Great Bend, Liberal, Emporia, and Hutchinson.

In a filing in the bankruptcy court last week, Payless has asked the court to approve the closure of up to 408 more stores, including about 60 in California.

The total closures account for around 20 percent of all of Payless' almost 4,500 locations worldwide.

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Payless is one of many traditional retailers that have had to resort to massive store closures and/or file bankruptcy as they struggle with the rapid growth of e-commerce and consumer shifts toward experiential spending.

The debt-saddled firm said it would immediately close almost 400 of its 4,400 stores as it attempts to restructure.

"We remain hopeful that these negotiations will be successful and provide us with the ability to avoid additional closures", Payless said in a statement.

The latest list in addition to 389 stores earmarked for shutdown in April.

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