Over the next few months, Payless Shoe Source will start closing stores across the United States.
In a statement, the company said Payless will begin liquidation sales on February 17.
They expect all stores to remain open until at least the end of March, although they added the majority will remain open until May.
The process does not affect the company’s franchise operations or its Latin American stores.
There are two Payless Shoe Source stores in Great Falls, with one located in Holiday Village Mall and the other located in Shopko.
The Great Falls Shopko is set to close in May due to the company’s financial restructuring.
Several Shopko stores in Montana are expected to close within the coming months including the Great Falls location.
Last month, Shopko stated it had filed voluntary petitions for a court-supervised financial restructuring under Chapter 11 of the United States Bankruptcy Code.
The company is seeking to facilitate the restructuring as a result of excess debt and ongoing competitive pressures, according to a press release.
As of right now, several Montana stores are set to close including in Great Falls, Plentywood, Sidney, Wolf Point, Dillon, Hardin, Whitefish, and Roundup.
The estimated last day of operation for the Great Falls store is May 5. Plentywood’s Shopko is set to close on March 2, while Sidney’s store is estimated to close on May 12. The Shopko in Wolf Point’s last day of operation is estimated to be April 7.
