Payless ShoeSource To Close 10 Michigan Stores
Payless ShoeSource filed for bankruptcy on Thursday and has plans to close over 370 stores nationwide.
Payless will be closing 378 stores across America, 10 of which are right here in Michigan. Payless is hoping that by getting rid of unprofitable stores it will be able to focus on making a comeback. The nationwide shoe store plans to also reduce debt by bringing in in new capital with online sales.
According to USAToday.com, Payless says it has $1 billion in assets and up to $10 billion in liabilities. Payless also has more than 100,000 creditors.
The following stores will be closing in Michigan....
Orchards Mall - Benton Harbor
Adrian Mall - Adrian
1435 N. Mitchell Street - Cadillac
The Mall Of Monroe - Monroe
5616 W. Vernon Hwy - Detroit
Bay City Mall - Bay City
Alpena Mall - Alpena
Meridian Mall - Okemos
Sterling Ponds Shopping Center - Sterling Heights
Big Rapids Commons Shopping Center - Big Rapids