{"id":21291,"date":"2017-04-04T20:40:51","date_gmt":"2017-04-05T00:40:51","guid":{"rendered":"https:\/\/tjbdeals.com\/?p=21291"},"modified":"2017-04-04T20:41:16","modified_gmt":"2017-04-05T00:41:16","slug":"payless-shoesource-files-for-bankruptcy-will-close-400-stores-right-away","status":"publish","type":"post","link":"https:\/\/tjbdeals.com\/?p=21291","title":{"rendered":"Payless ShoeSource Files For Bankruptcy &#038; Will Close 400 Stores Immediately"},"content":{"rendered":"<p><span style=\"font-size: 14pt; font-family: helvetica, arial, sans-serif;\"><a href=\"https:\/\/tjbdeals.com\/?attachment_id=21292\" rel=\"attachment wp-att-21292\"><img loading=\"lazy\" decoding=\"async\" class=\"size-thumbnail wp-image-21292 alignleft\" src=\"https:\/\/tjbdeals.com\/wp-content\/uploads\/2017\/04\/PAYLES-540x405-150x150.jpg\" alt=\"\" width=\"150\" height=\"150\" \/><\/a>Payless ShoeSource has become the most recent retailer to file for bankruptcy in the face of hard times.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: helvetica, arial, sans-serif;\">The discount shoe store filed for Chapter 11 bankruptcy protection on Tuesday, saying it needed to shore up\u00a0its balance sheet\u00a0in order to\u00a0position itself for long-term survival in an increasingly tough\u00a0retail landscape.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: helvetica, arial, sans-serif;\">&#8220;This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify,&#8221; said Payless&#8217; CEO\u00a0W. Paul Jones in a statement.<\/span><\/p>\n<p><span style=\"font-size: 14pt; font-family: helvetica, arial, sans-serif;\">Payless plans to immediately close 400 stores in the U.S. and Puerto Rico\u00a0and will also &#8220;aggressively manage&#8221; the rest of its real estate portfolio. That will mean closing additional stores and seeking to modify existing lease terms. The retailer currently has 4,400 stores in more than 30 countries.<\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><strong>READ MORE: <span style=\"text-decoration: underline;\"><a href=\"https:\/\/www.forbes.com\/sites\/laurengensler\/2017\/04\/04\/payless-shoesource-bankruptcy-store-closures\/#7af9dee95560\" target=\"_blank\"><span style=\"color: #3366ff; text-decoration: underline;\">FORBES<\/span><\/a><\/span><\/strong><\/span><\/p>\n<p><span style=\"font-size: 14pt;\"><em>Published on 4\/4\/17<\/em><\/span><\/p>\n<div id=\"article-0-inread\" class=\"inread ng-isolate-scope inread-active\"><\/div>\n","protected":false},"excerpt":{"rendered":"<div class=\"mh-excerpt\"><p>Payless ShoeSource has become the most recent retailer to file for bankruptcy in the face of hard times. The discount <a class=\"mh-excerpt-more\" href=\"https:\/\/tjbdeals.com\/?p=21291\" title=\"Payless ShoeSource Files For Bankruptcy &#038; Will Close 400 Stores Immediately\">&#8230;.. Get This Deal<\/a><\/p>\n<\/div>","protected":false},"author":1,"featured_media":21292,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124],"tags":[],"class_list":["post-21291","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tjb-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Payless ShoeSource Files For Bankruptcy &amp; Will Close 400 Stores Immediately - TJB Deals<\/title>\n<meta name=\"description\" content=\"Payless ShoeSource has become the most recent retailer to file for bankruptcy in the face of hard times. 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