Credit: Tom Sofield/LevittownNow.com
Payless ShoeSource is facing the possibility of closing all of its local stores, according to a Thursday Reuters report.
The discount shoe retailer operates stores at Oxford Valley Mall in Middletown and in the Fairless Hills Shopping Center in Bristol Township. It previously operated a store in Bristol Borough, but that store closed during a 2017 bankruptcy.
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The Reuters article said the company has not had luck finding a buyer and the company had begun preparations to liquidate, closing all of its roughly 2,300 stores.
While the company did emerge from its 2017 bankruptcy, it still carried a heavy debt burden.
Alden Global, the creditor that owns the shoe chain, also owns the Bucks County Advance and Trentonian newspapers through Digital First Media Group. The company has become known for slashing jobs at it’s publications over the years.
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