As we previously reported, Payless ShoeSource filed 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. According to its closing list Playless plans to close its Maryville location at 1804 S. Main St. and its Chillicothe location in the Southtown Shopping Center. The St. Joseph Payless located at 601 S. Belt Highway was not on the list of closings. To view the closing list CLICK HERE.
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 to make available up to $385 million to keep the stores running.