According to CNBC, the Payless Shoe Source chain has filed Chapter 11 bankruptcy proceedings.
As part of the reorganization, the franchise is closing some 400 stores nationwide, including the Ponca City location on 14th Street.
The bankruptcy action was filed yesterday in the U.S. Bankruptcy Court of the Eastern District of Missouri.
The other stores in Oklahoma that will be closing include two in Oklahoma City, and stores in Tulsa, Sand Springs, Sapulpa, Altus, Norman and Edmond.
There are no statements as yet from the Ponca City location. Customers are being asked to visit the corporate online store, payless.com.