Payless ShoeSource will immediately close nearly 400 poorly performing stores in the United States, including two in Sacramento.
The shoe chain has filed for Chapter 11 bankruptcy protection, becoming the latest retailer to succumb to increasing competition from online rivals like Amazon.
The Topeka, Kansas-based retailer has more than 4,400 stores in more than 30 countries and was founded in 1956.
In Sacramento, a Payless ShoeSource store at Country Club Plaza will close, along with a store in Florin Towne Center. In Modesto, a store in Ceres Plaza Shopping Center will be shuttered, and another on Charter Way in Stockton.
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In a statement, W. Paul Jones, CEO of Payless, said, "This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify."