400 Payless Shoe stores to close

By WKTV News

WKTV - The parent company of Payless Shoesource will close nearly five hundred stores over the next three years. Collective Brands, Inc. released it's 2nd Quarter numbers Wednesday-- and although sales are up-- it will close under-performing stores worldwide.

The company owns Payless Shoesource and Stride Rite stores. There are Payless locations in Rome, Oneida, and two in New Hartford. There's no word yet which stores will close- the first 300 closures will take place by the end of the year. Most of the closures will be within the United States, with only about 75 international closures.

400 Payless Stores will close, and 75 Stride Rite stores will close over the next three years.

The company reported a $35 million dollar 2nd Quarter loss.

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