Newspaper article The Topeka Capital-Journal

Amid Bankruptcy Recovery, Payless to Speak to Workers

Newspaper article The Topeka Capital-Journal

Amid Bankruptcy Recovery, Payless to Speak to Workers

Article excerpt

Payless ShoeSource employees expect to learn more information about "additional steps" being taken by the company to maintain its stability at a town hall meeting scheduled for 8:30 a.m. Thursday.

Multiple unnamed employee sources have said they believe one of those additional steps may be significant layoffs of the corporate workforce.

Payless spokeswoman Meghan Spreer said the company left its bankruptcy with a strong foundation, but that the changing retail environment will require additional steps to assure the company's continued growth.

She did not comment on specific plans.

Payless filed for bankruptcy in April and emerged four months later after nearly halving its debt load and closing about 20 percent of its retail stores.

In August, after the company emerged from bankruptcy, then CFO Michael Schwindle said it was important over the next months to build trust with creditors and Payless ShoeSource employees. …

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