Payless Could Close, Taking 18 CT Stores With It: Report

Discount footwear retailer Payless ShoeSource plans to close all of its U.S. stores as part of a bankruptcy filing later this month, the business news source Reuters is reporting.

The closings would affect about 2,300 U.S. stores and the company is preparing for going-out-of-business sales at the locations, according to the Reuters report. Sources told Reuters that a buyer could still emerge.

Payless currently operates more than 2,700 stores in North America and Puerto Rico, including 18 locations in Connecticut, according to the Payless store locator.

The Connecticut locations include:

• Manchester (2)
• Enfield
• Southington
• Wethersfield
• Cromwell
• Mansfield/Willimantic
• Hartford
• New Britain
• Bloomfield
• Meriden
• Wallingford
• Norwich
• Bristol
• Waterford
• North Haven
• Waterbury (2)

Payless closed nearly 700 stores amid a 2007 bankruptcy filing.

Payless officials did not immediately respond to a request for comment by Patch.

News of the potential store closings comes as another big retailer, Sears, narrowly escaped going out of business. Earlier this month, a bankruptcy judge approved a $5.7 billion bid to keep the business operating.

Sister retailer KMart was not as fortunate. The store in Vernon is in the midst of a going-out-of business sale after news surfaced in latre December that it will be closing in the spring, officials for the parent company, Sears Holdings, said. Sears officials cited ongoing financial woes amid bankruptcy proceedings.

The store targeted for closure is located at 295 Hartford Turnpike. The only KMart store remaining in the state will be in Watertown at 595 Straits Turnpike after the Vernon store is shuttered.

Read the full Reuters report here.

Photo Credit: Chris Dehnel

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