Payless ShoeSource has filed for Chapter 11 bankruptcy protection.
As part of the filing, the retailer will close nearly 400 stores in an attempt to restructure its debt load. Included on that list for closures is Lima's East Gate location. There are 12 location in Ohio that will be closing. According company the closures will be immediate. Payless has over 4,400 stores in 30 countries.
Payless is the tenth retailer to file for bankruptcy protection this year adding its name to a growing list of retail chains struggling to compete with online retailers.
