Payless is the latest national retailer to close hundreds of stores around the U.S., including three in North Carolina – though the Charlotte market was spared.
This week the shoe company announced it had filed Chapter 11 Bankruptcy, and as a part of a restructuring of the business, it is shuttering 400 underperforming stores nationwide in the coming months. In North Carolina, Payless will close stores in New Bern, Fayetteville and Mount Airy, according to a list posted to its website Wednesday morning.
The Kansas-based shoe seller said it will continue to operate its other stores normally. Payless has 11 stores in the Charlotte metro area.
“This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify. We will build a stronger Payless for our customers, vendors and suppliers, associates, business partners and other stakeholders through this process,” CEO Paul Jones said in a statement.
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Retail companies have been shrinking their store footprints as a cost-saving measure as customers gravitate more toward online shopping. In Charlotte, some of the retailers to close stores over the last year include Macy’s, Hollister, J.C. Penney and The Limited.