Payless ShoeSource said Tuesday that it has filed for bankruptcy and will immediately close 400 stores in the US and Puerto Rico.
The closures could impact more than 2,000 employees.
Payless has been in talks with its lenders for months over a restructuring plan that at one point included closing as many as 1,000 stores, or a quarter of the company’s locations.
Additional store closures are likely. The company said it planned to “work to aggressively manage the remaining” stores through additional closures — beyond the initial 400 — or modified lease terms.
Payless has 4,400 stores in 30 countries and employs nearly 22,000 people.
Here’s a list of all the stores that will close immediately, according to Payless.
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