The Okotoks Payless Shoe Source store does not yet have an official closing date after an announcement last week that all 248 North American locations will be closing.

Stephen Marotta, Chief Restructuring Officer for the company, said in a press release said the closures are a result of a prior reorganization leaving the company ill-equipped for the current retail environment, with too much remaining debt and too large of a store footprint.

Stores are set to begin closing at the end of March, with some staying open until the end of May conducting liquidation sales.

The organization employs about 2400 workers in Canada, and owns 248 stores.

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