Wichita Falls Payless Shoes Set to Close

Payless Shoes announced the closing of over 300 stores as they move to file for Chapter 11 bankruptcy. The Sikes Senter Mall location in Wichita Falls has made the list of 378 stores slated to close in the coming weeks and months ahead.

The TRN reported on Thursday that the mall store does have signs posted indicating that all sales are final and no refunds will be given. Other stores in this region who’ve made the list include one of the three Payless stores in Lawton, Altus and Mineral Wells.

Payless, which reportedly has up to $10 billion in liabilities and $1 billion in assets, is the 10^th retailer this year to file for bankruptcy.  They join the ranks of one-time retail leaders such as HHGregg, Gander Mountain and Radio Shack, all of whom have succumbed to crushing debt and changing consumer habits. Retail studies indicate that online shopping has had a devastating effect on brick and mortar retailers nationwide.

There is no firm closing date for any of the Payless locations listed as the company seeks to liquidate inventories.

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