According to a statement posted on its website Payless ShoeSource will file for bankruptcy as part of a restructuring plan. The company says that it will continue operations, but will be closing 378 under-performing stores in the U.S.

According to the list released by Payless corporate, three stores in South Dakota will be closing.

  • Sioux Falls, the Payless on East 10th street in front of the former K-Mart.
  • Yankton, in the Yankton Mall.
  • Brookings, on 25th Avenue.

The two other Payless stores in Sioux Falls, one near the Empire Mall and another in the mall, will remain open for now. There are also Payless sections in Sioux Falls' two Shopko stores. Stores in Watertown and Rapid City that will also remain open.

Two stores in Nebraska will close. One in Omaha in the Oak View Mall and another in Bellevue.

Four stores will close in Minnesota: Cotton Grove, Elk River, a store at the Medford Outlet Center, and a store in the Fargo-Moorhead area.

Two stores in Iowa will close: in Carroll and Davenport.

The discount shoe store chain calls itself "the largest specialty family footwear retailer in the Western Hemisphere." The company started in Topeka, KS in 1956. Still based in Topeka, the company is currently owned by Golden Gate Capital and Blum Capital Partners.


See Also: