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Payless to close as many as 408 more stores

Payless Shoesource plans to shutter up to 408 more stores in addition to the nearly 400 closures the retailer announced when it filed for bankruptcy protection in April. Creditors of the retailer, including major suppliers, raised objections about a restructuring plan that will convert 40% of the company’s debt into equity for lenders. Read the Chicago Tribune story here

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