Five CT Payless stores slated to close - WFSB 3 Connecticut

Five CT Payless stores slated to close

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Five Payless stores in CT are slated to close (WFSB) Five Payless stores in CT are slated to close (WFSB)
WATERBURY, CT (WFSB) -

Five Connecticut Payless stores are slated to close, after the shoe giant recently filed for bankruptcy.

Payless ShoeSource filed for Chapter 11 bankruptcy protection and will close 400 stores.

The chain has over 4,400 stores in more than 30 countries and was founded in 1956.

According to the Associated Press, 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, the AP said.

The Connecticut stores that are closing are in Waterbury in the Waterbury Plaza, Wethersfield in the Jordan Lane Shopping Center, Newtown in the Sand Hill Plaza, Old Saybrook in the Old Saybrook Shopping Plaza, and Norwalk in the Strawberry Hill Shopping Center.

For the complete list of stores closing, click here.

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