DETROIT – Payless ShoeSource has filed for Chapter 11 bankruptcy.
The retail chain will close nearly 400 stores in the U.S. as it attempts to boost its balance sheet.
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"This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify," W. Paul Jones, Payless Chief Executive Officer, said in a statement.
Here are the 10 Michigan Payless stores that will be closing:
- Orchards Mall - Benton Harbor
- Adrian Mall - Adrian
- 1435 N Mitchell - Cadillac
- 5616 Vernor Hwy - Detroit
- Mall of Monroe - Monroe
- Meridian Mall - Okemos
- Bay City Mall - Bay City
- Alpena Mall - Alpena
- Sterling Ponds Shopping Center - Sterling Heights
- Big Rapids Commons - Big Rapids
ALSO SEE: Here are the Michigan stores that are closing in 2017
Payless was established in 1956, based in Topeka, Kansas. Payless has approximately 4,400 stores in more than 30 countries.
Full list of Payless Stores Closing here.