Payless ShoeSource could close another 408 stores, in addition to the 400 it shut down two months ago after filing for bankruptcy protection.
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Payless says it could close another 408 stores
Payless is seeking to immediately close 112 locations and potentially shut down another 296 stores if it can't get a break on rent.
The company is seeking to immediately close 112 locations and potentially shut down another 296 stores if it can't get cheaper rent for those stores, according to court papers filed this week at federal bankruptcy court in St. Louis, Missouri. Fortune's Phil Wahba first reported on the closures.
The closures could impact more than 2,000 employees.
The retailer said in April that more store closures were likely. In a news release, the company said it planned to "work to aggressively manage the remaining" stores through additional closures or modified lease terms.
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