Payless considers plan to close 1,000 stores

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TOPEKA (WIBW)-- Payless is reportedly considering closing a thousand stores.

According to Kansas City Star, the shoe store is in talks with its lenders over a reconstructing plan that includes closing 1,000 shoe stores as it wrestles with an unsustainable debt load.

13 NEWS reported last month, the Topeka based company laid off 110 employees in the Capitol City.

Approximately 25,000 people work for Payless, 800 of them work at the Topeka world headquarters.

The Kansas City Star is reporting Payless has at least 17 store in the Kansas City area.

A big chunk of the discount shoe retailers debt is a $520 million loan due in 2021.