Payless ShoeSource To Close 10 Michigan Stores

Payless ShoeSource filed for bankruptcy on Thursday and has plans to close over 370 stores nationwide.

Payless will be closing 378 stores across America, 10 of which are right here in Michigan. Payless is hoping that by getting rid of unprofitable stores it will be able to focus on making a comeback. The nationwide shoe store plans to also reduce debt by bringing in in new capital with online sales.

According to USAToday.com, Payless says it has $1 billion in assets and up to $10 billion in liabilities. Payless also has more than 100,000 creditors.

The following stores will be closing in Michigan....

Orchards Mall - Benton Harbor

Adrian Mall - Adrian 

1435 N. Mitchell Street - Cadillac 

The Mall Of Monroe - Monroe 

5616 W. Vernon Hwy - Detroit 

Bay City Mall - Bay City 

Alpena Mall - Alpena 

Meridian Mall - Okemos 

Sterling Ponds Shopping Center - Sterling Heights 

Big Rapids Commons Shopping Center - Big Rapids