2 Hawaii Payless stores among 400 locations closing

2 Hawaii Payless stores among 400 locations closing

Payless Shoesource announced it is immediately shutting down approximately 400 stores in at least 44 states, as well as Washington, DC, and Puerto Rico.

There are two Hawaii locations closing: The Payless at Kukui Marketplace in Lihue and the store at the Kona Coast Shopping Center.

The company posted its list of stores that were closing on its website. The state of Texas is losing the most stores, with 66 locations closing.

Payless reported Tuesday that it is filing for Chapter 11 bankruptcy. CEO W. Paul Jones called it a difficult but necessary decision "driven by the continued challenges of the retail environment," according to CNN.

Other retail businesses have announced store closings in 2017, including Staples and JC Penney, with companies citing the increase of online competition as one of the reasons.

Moody's stated in February that retailers including Claire's, J Crew, Tops and rue21 are among those listed as "distressed" for high levels of debt.

For the full list of Payless stores closing, click here.

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