Payless shoes closing 400 stores

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Posted More Than Ten Years Ago by Tim Burke

Shoe chain Payless ShoeSource is filing for bankruptcy.

Officials say it will immediately close nearly 400 stores in an effort to reduce its debt by almost 50 percent.

CEO Paul Jones blames an increasing shift by shoppers to buy online or at discount stores like T.J. Maxx.

It's unclear if the Big Rapids store will be one of those shutting its doors.

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