Three of the seven Payless ShoeSource stores in Southeast Texas are among the 378 stores that are planned to close in the U.S. as a result of the company's bankruptcy filing.
In the list that was released Wednesday a store in Beaumont, Vidor and Port Arthur will be closing and have already been removed from the company's store finder on its website.
The store locations on the closure list here are...
- 3712 Gulfway Drive, Port Arthur
- Crossroads Shopping Center, Vidor
- Parkdale Mall, Beaumont
Payless hopes that by shedding unprofitable stores, it will be able to make a comeback by focusing on its winners. The Topeka-based discount shoe seller also plans to reduce debt, bring in new capital and try to take on online sellers like Amazon and Zappos.com, it said in its filing.
The company said it has $1 billion in assets and up to $10 billion in liabilities, along with more than 100,000 creditors.