Brownwood, San Angelo locations among 400 Payless stores closing

The Payless shoe store in Brownwood, located at 308 W. Commerce St., is one of 400 the company is closing.

By Jamie Burch, Doug Myers & Rachel Smith/KTXS News BROWNWOOD, Texas - Payless shoe stores in Brownwood and San Angelo are among 400 stores the company is closing.

The Payless in Brownwood is located at 308 W. Commerce St., while the San Angelo stores are located in Sunset Mall and at 5150 Southland Blvd.

The two stores in Abilene - located in the Mall of Abilene and at 3520 N. 1 st St. - are not on the closure list.

The Topeka, Kansas-based retailer said Tuesday the closures are part of reorganization under Chapter 11 bankruptcy.

Payless, which was founded in 1956, has more than 4,400 stores in 30-plus countries.

The company plans to reduce its debt by almost 50 percent, lower how much it pays in interest and line up funds. Payless says some of its lenders have agreed make available up to $385 million to keep the stores running.