Payless to close 400 stores - WQOW TV: Eau Claire, WI NEWS18 News, Weather, and Sports

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(WQOW) - One of the nation's largest shoe retailer is closing hundreds of its stores across the U.S.

On Tuesday, Payless announced it filed "voluntary Chapter 11 petitions", which according to the U.S. Courts, is a chapter of the Bankruptcy Code that generally provides for reorganization to keep a business alive and pay creditors over time.

According to its website, Payless said it plans to restructure the business' debt load and close nearly 400 "under-performing locations in the U.S. and Puerto Rico. A full list of store closures has not yet been released. 

News 18 spoke with a Payless spokesperson, who said the full list of store closures will be released once they've notified their store associates.

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