Payless ShoeSource to Close at Woodland and Rivertown Crossing Mall
We learned in April that Payless was planning to close 400-500 stores nationwide.That list has grown.
USA Today reports that Payless is now is asking a federal bankruptcy judge for permission to close up to 408 additional stores, including the Woodland Mall and Rivertown Crossing Mall locations.
According to MLive, Payless Inc. filed for Chapter 11 bankruptcy April 4 to "strengthen its balance" and "to optimize its store footprint."
USA Today reports that these are the locations in Michigan set to close.
- Adrian Mall
- Alpena Mall
- Orchards Mall, Benton Harbor
- Bay City Mall
- Big Rapids Common Shopping Center
- N. Mitchell St., Cadillac
- Michigan Ave., Dearborn
- W. Vernor Highway, Detroit
- The Gateway at Detroit, Highland Park
- Woodland Mall, Grand Rapids
- Rivertown Crossing Mall, Grandville
- Michigan Ave., Jackson
- Madison Place, Madison Heights
- Mall of Monroe
- Meridian Malls, Okemos
- Redford Plaza, Redford
- Lakeside Mall, Sterling Heights
- Sterling Ponds Shopping Center, Sterling Heights
In February, sources told Bloomberg that Payless could close as many as 1,000 stores “as it wrestles with and unsustainable debt” — upwards of $600 million.