Payless ShoeSource to Close Its Doors After Long Run in Price

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Payless ShoeSource announced Tuesday that it will close over 300 stores in the United States after filing for Chapter 11 bankruptcy. Wednesday morning, three Utah locations were announced as closing their doors. These locations include Price, Salt Lake City and Sandy. The store in Price has been in operation since 1981.

“This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify,” Payless Chief Executive Officer, Paul Jones stated in a press release. “While we have had to make many tough choices, we appreciate the substantial support we have received from our lenders, who share our belief that we have a unique opportunity to enable Payless the iconic American footwear retailer with one of the best-recognized global brands to remain the go-to shoe store for customers in America and around the globe.”

In 1956, Payless ShoeSource was founded in Topeka, Kansas where it currently has its global headquarters. The retailer has approximately 4,000 stores in more than 30 countries.

ETV 10 News made several attempts to contact the company’s media representative for further details on the store closure, but was unsuccessful.

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