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REUTERS/Carlos Garcia Rawlins 32/37 left right Opposition leader Henrique Capriles (L) is kissed by a supporter as he arrives at an opposition rally in Caracas, Venezuela, April 8, 2017. REUTERS/Carlos Garcia Rawlins 33/37 left right People participating in an opposition rally are reflected in the glass windows of a building in Caracas, Venezuela, April 8, 2017. REUTERS/Christian Veron 34/37 left right A signs that reads 'No more dictatorship' and Venezuelan flags are seen during
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The Kansas-based retailer also said that it would immediately close nearly 400 stores as part of the reorganization. It has over 4,400 stores in more than 30 countries and was founded in 1956. Payless plans to reduce its debt by almost 50 percent, lower how much it pays in interest and line up funds. The company says some of its lenders have agreed to make available up to $385 million to keep the stores running. This is a difficult, but necessary, decision driven by the continued challenges of the retail environment, which will only intensify, said Payless CEO Paul Jones in a statement. Shoppers are increasingly shifting their buying online or going to discount stores like T.J. Maxx to grab deals on designer brands. That shift has hurt traditional retailers, even low-price outlets like Payless. In fact, Moodys Investor Service said earlier this year that the number of distressed retailers those with cash problems and lots of debt that are facing strong competition is at the highest rate since 2009. It named Payless as one of the retailers.
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Rosenbaum and Ashley Hebert hung out by the bar at We TVs Dr. Miami show premiere party at The Tuck Room in North Miami Beach. Orange County Choppers' Paul Teutul Sr taking a meeting with executive producer Franco Porporino Jr. at Orange County Choppers headquarters in Newburgh, NY. Colin Farrell posed with the 2017 Coca-Cola and Regal Films program winners Tom Teller and Julian Conner at CinemaCon in Las Vegas. Orlando Bloom chatted with Erin Foster as they celebrated a more sustainable future at the H&M Conscious Exclusive Collection dinner in L.A. Jesse Metcalfe and Cara Santana enjoyed a couples weekend at the W Las Vegas Grand Opening Celebration in Las Vegas. Shenae Grimes-Beech attended the Secret Extensions Salon Edition Double Volume Launch, produced by Pop Your Shop, at Blushington in L.A. Nicole Richie hosted an exclusive shopping event with Project September benefitting Planned Parenthood at the Hollywood Roosevelts Garden.
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