Payless ShoeSource Store Closings 2017: See the List

Advertisement

Payless ShoeSource has doubled the number of stores  it will close as it proceeds with its bankruptcy reorganization, the company said. In its Chapter 11 filing in April, the listed about 400 locations in its first round of closings. The complete list of locations can be found on Payless’s reorganization website here.

Today’s announcement of the second round lists about another 400 stores to be shuttered, The combined number represents about 20% of the Topeka, Kan.-based retailer’s total locations worldwide. The complete list of locations can be found on Payless’s reorganization website here.

Payless is now asking a federal bankruptcy judge to let it close more than 100 additional stores. The company said it is seeking rent concessions at many locations and could keep some open.

The Payless ShoeSource bankruptcy didn’t come as much of a surprise, following reports in late March that stores were suffering due to poor mall traffic. These initial reports claimed that the company would close 1,000 locations.

A growing list of retailers have filed for bankruptcy so far in 2017, including The Limited, Hhgregg, RadioShack, BCBG, Wet Seal, Gormans, teen-focused rue21, inc. , Eastern Outfitters, and outdoors apparel and equipment merchant Gander Mountain.

As InvestorPlace contributor Josh Enomoto commented last month, the retail industry is suffering from a bifurcated dynamic. “On one hand, the e-commerce sector is on a roll. On the other, traditional brick-and-mortar stores are hit with a dearth in foot-traffic. That has plagued formerly prominent retail stocks, moving some to the brink of bankruptcy.”


Article printed from InvestorPlace Media, https://investorplace.com/2017/06/payless-shoesource-store-closings-2017-see-the-list/.

©2024 InvestorPlace Media, LLC