All 24 New Jersey Payless ShoeSource stores to close

Posted: Updated:

Payless ShoeSource is shuttering all of its 2,100 remaining stores in the U.S. and Puerto Rico – including all 24 stores in New Jersey.

The Topeka, Kansas-based chain said Friday it will hold liquidation sales starting Sunday and wind down its e-commerce operations. All stores will remain open until at least the end of March and the majority will remain open until May.

The debt-burdened chain filed for Chapter 11 bankruptcy protection in April 2017, closing hundreds of stores as part of its reorganization.

At the time, it had over 4,400 stores in more than 30 countries. It emerged from restructuring four months later with about 3,500 stores and eliminated more than $435 million in debt.

The shoe store company joins Wayne-based Toys R Us as the latest iconic retailer to shut its doors due to financial issues.

RELATED: Former executive: Toys R Us plans relaunch under new name 
RELATED: Proposed bill would provide more severance during mass layoffs 

Former Toys R Us officials stated earlier this week that there are some plans to bring the retailer back under a new name.

New Jersey officials also announced plans to introduce legislation to help workers who lose their jobs in mass layoffs. The bill would require employers to give 90 days notice of mass layoffs and also require employees to receive one week severance for every year they worked for the company.

The Associated Press wire services contributed to this report.

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