Payless shoes closing 6 Virginia stores after filing bankruptcy

Posted at 12:43 PM, Apr 05, 2017
and last updated 2017-04-05 12:46:01-04

RICHMOND, Va. — Payless Shoes is closing 400 stores, including six Virginia locations, immediately after filing for Chapter 11 bankruptcy Tuesday.

Two stores closings in Central Virginia include the Virginia Center Commons location in Glen Allen and the Chippenham Forest Square location in Richmond.

The shoe retailer said the stores will close immediately.

The full list of closings in Virginia include:

  • Haygood Shopping Center Virginia Beach VA
  • Tanglewood Mall Roanoke VA
  • Chesapeake Square Chesapeake VA
  • Battlefield Shopping Center Leesburg VA
  • Virginia Center Commons Glen Allen VA
  • Chippenham Forest Square Richmond VA

The company attributed the decision to decreasing sales and increased online competition.

“This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify,” said Payless CEO Paul Jones in a statement.

All closing Payless Shoes stores:

Jones said the closings will reduce company debt by 50 percent. He went on to say the company will now make additional investments in online expansion to keep up with the growing marketplace.

The shoe retailer has around 4,400 stores in more than 30 countries.

Payless joins a list of retailers that have recently announced closings along with Sears, Kmart, HHGregg, JC Penney and Game Stop.

The CBS 6 Problem Solvers are Working For You.

Contact the CBS 6 Problem Solvers

📱 Download CBS 6 News App
The app features breaking news alerts, live video, weather radar, traffic incidents, closings and delays and more.