DETROIT - Payless ShoeSource has filed for Chapter 11 bankruptcy.
The retail chain will close nearly 400 stores in the U.S. as it attempts to boost its balance sheet.
"This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify," W. Paul Jones, Payless Chief Executive Officer, said in a statement.
Here are the 10 Michigan Payless stores that will be closing:
- Orchards Mall - Benton Harbor
- Adrian Mall - Adrian
- 1435 N Mitchell - Cadillac
- 5616 Vernor Hwy - Detroit
- Mall of Monroe - Monroe
- Meridian Mall - Okemos
- Bay City Mall - Bay City
- Alpena Mall - Alpena
- Sterling Ponds Shopping Center - Sterling Heights
- Big Rapids Commons - Big Rapids
Payless was established in 1956, based in Topeka, Kansas. Payless has approximately 4,400 stores in more than 30 countries.
Full list of Payless Stores Closing here.
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