Payless ShoeSource will close approximately 2,500 retail locations, including the Middletown, NY store in the Galleria at Crystal Run
ST. LOUIS, MI—Payless ShoeSource filed for voluntary Chapter 11 bankruptcy protection on Monday and stated that it plans to close all of its North American stores in the US and Canada by the end of May.
The company also reported it intends to file for protection for some of its Canadian subsidiaries under the Companies' Creditors Arrangement Act (CCAA) in the Ontario Superior Court of Justice.
The Topeka, KS-based company intends to wind down operations at its approximately 2,500 store and e-commerce locations in North America. Store closings will begin at the end of March, with many stores remaining open until the end of May as they conduct liquidation sales.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
