EAST RUTHERFORD, N.J. — The Payless ShoeSource at Loews Shopping Center in East Rutherford is among seven in New Jersey and 400 in the U.S. that is expected to close.
The company announced Tuesday that it filed for Chapter 11 protection on less than $1 billion in assets and $10 billion in liabilities.
The family footwear retailer has 4,400 stores in more than 30 countries and was founded in 1956 in Topeka, Kan., where its global headquarters remains.
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