By ANDY GARDNER MASSENA -- Payless ShoeSource will close their store in the St. Lawrence Centre mall and take six jobs with it. An official with the company said they don’t have a firm closing …
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By ANDY GARDNER
MASSENA -- Payless ShoeSource will close their store in the St. Lawrence Centre mall and take six jobs with it.
An official with the company said they don’t have a firm closing date.
“It’s kind of on a store-by-store basis,” said Meghan Spreer, a senior analyst with Payless corporate communications. She added that all of the 400 stores on the chopping block will be shuttered by the time they finish a liquidation process, which started Tuesday.
The Massena employees will be offered either severance packages or positions at nearby stores, Payless wrote in an online FAQ talking about the closures.
“We will make every effort to offer open positions at nearby stores to associates whose store is closing. If there is not an available opening, Payless associates will receive severance pay and, if eligible, benefits to help in their career transition,” the FAQ says.
The discount shoe chain is entering Chapter 11 bankruptcy. A statement on their website says they anticipate emerging from that by late summer.
“The agreement we made with our lenders assumes we will emerge from the Chapter 11 process in approximately 4 months,” reads a prepared statement on the company’s website.