You may be about to have to pay more for shoes, as the near-bankrupt Payless Inc. is rumored to be closing hundreds of stores across the country.

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According to Bloomberg, Payless ShoeSource plans to file for bankruptcy, and alleges that 'the company is initially planning to close 400 to 500 stores as it reorganizes operations.' These claims, however, have not been confirmed by the discount shoe chain.

There is a Payless ShoeSource in Fort Collins at the Foothills Mall, in addition to a location at Centerra in Loveland and two Greeley stores.