THUNDER BAY – Intercity Shopping Centre is losing another long-time tenant.
Payless ShoeSource Canada Inc., announced on Tuesday it will shutter all 248 of its Canadian stores. The company in total will close 2,500 stores across North America.
Founded in Topeka,Kan. in 1956, the company earlier this year announced it had filed for Chapter 11 protection in the U.S. bankruptcy court and on Tuesday sought and obtained an initial order from the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act, which provided a stay of proceedings until March 21.
“Stores across North America remain open at this time, and we are conducting liquidation sales that will continue until at least the end of March, with most continuing through the end of May.”
Gift cards will be honoured until March 11 and returns and exchanges made prior to Feb. 17 can be made until March 1.
“We have discontinued our rewards program and terminated all outstanding merchandise coupons in North America, effective immediately.”
