Business & Tech
Nashua Payless Avoids Closure
The Nashua Payless will remain open after the shoe chain announced it will close nearly 400 stores amid a bankruptcy filing.
NASHUA, NH — The Nashua Payless shoe store will remain open after the shoe chain announced this week it will shutter nearly 400 stores amid a bankruptcy filing. Only one New Hampshire store in Newington was slated for closure. In Massachusetts, 11 stores were slated for closure, including one in Westford.
Payless said the affected stores will close "immediately." The company, founded in 1956 and headquartered in Topeka, Kansas, has struggled with decreasing sales due to competition from Walmart and Amazon, among other competitors. Payless reportedly has debt that exceeds $500 million.
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There are about 20 Payless stores in New Hampshire. The closures leave Payless with about 4,000 stores in 30 countries.
Photo: Matt Rourke/Associated Press
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