DENVER BUSINESS JOURNAL - In the wake filing for Chapter 11 bankruptcy protection this week, Payless ShoeSource Inc. put out the list today of the 400 stores it will shutter nationwide.
Among them, three in Colorado: High Plains in Sterling, Creekside in Lakewood and Marketplace at Northglenn in Northglenn.
The privately owned Topeka, Kansas shoe chain said earlier this week that the stores it will close are underperforming locations. The company has more than 4,000 stores in 30 countries.
MarketWatch reports the company, through the reorganization, plans to reduce its debt by 50 percent and has entered into agreements with certain lenders to gain access to $385 million of debtor-in-possession financing. The company hopes it can keep the business running and successfully come out of bankruptcy.
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