(WXXI News & AP) Three area Payless shoe stores are closing as part of the company’s announcement this week it is filing for Chapter 11 bankruptcy protection.
The Topeka, Kansas-based retailer said Tuesday that it will be closing nearly 400 stores as part of the reorganization. It has over 4,400 stores in more than 30 countries and was founded in 1956.
The local stores on the closing list are:
-Canandaigua, 3189 County Rd. 10
-Genesee Valley Shopping Center in Geneseo
There was no immediate word on when they will close.
There are still several other Rochester area Payless stores that will remain open.
Payless plans to reduce its debt by almost 50 percent, lower how much it pays in interest and line up funds. The company says some of its lenders have agreed make available up to $385 million to keep the stores running.