Payless Is Closing 400 Stores

(Topeka, KS) -- Payless Shoesource is filing for Chapter 11 bankruptcy protection. 

The family footwear giant also announced that it plans to close nearly 400 stores nationwide as part of a restructuring plan. It's unclear which Payless stores will be affected.

The company says it'll focus on global growth and online expansion.

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Photo:  flickr, Kai Schreiber

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