Payless says it could close another 408 stores

Payless ShoeSource could close another 408 stores, in addition to the 400 it shut down two months ago after filing for bankruptcy protection.

The company is seeking to immediately close 112 locations and potentially shut down another 296 stores if it can't get cheaper rent for those stores, according to court papers filed this week at federal bankruptcy court in St. Louis, Missouri. Fortune's Phil Wahba first reported on the closures.

The closures could impact more than 2,000 employees.

Prior to filing for bankruptcy in April, Payless had 4,400 stores in 30 countries and employed nearly 22,000 people.

The retailer said in April that more store closures were likely. In a news release, the company said it planned to "work to aggressively manage the remaining" stores through additional closures or modified lease terms.

RELATED: Inside Payless stores

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TORONTO, ONTARIO, CANADA - 2016/02/28: Payless Shoe Store, Couple walking in a mall corridor. (Photo by Roberto Machado Noa/LightRocket via Getty Images)
Payless Shoe Source. Linda Mar, CA.
An employee arranges a display at a Payless ShoeSource Inc. store in New York, U.S., on Wednesday, May 2, 2012. JPMorgan Chase & Co. and Wells Fargo & Co. have committed to provide $1.725 billion in loans to support the acquisition of Collective Brands Inc. by Wolverine World Wide Inc., Golden Gate Capital Corp. and Blum Capital Partners LP. Photographer: Scott Eells/Bloomberg via Getty Images
Payless shoes source front entrance in Santa Maria, California
A pedestrian passes in front of a Payless ShoeSource Inc. store in New York, U.S., on Wednesday, May 2, 2012. JPMorgan Chase & Co. and Wells Fargo & Co. have committed to provide $1.725 billion in loans to support the acquisition of Collective Brands Inc. by Wolverine World Wide Inc., Golden Gate Capital Corp. and Blum Capital Partners LP. Photographer: Scott Eells/Bloomberg via Getty Images
A customer browses for shoes at a Payless ShoeSource Inc. store in New York, U.S., on Wednesday, May 2, 2012. JPMorgan Chase & Co. and Wells Fargo & Co. have committed to provide $1.725 billion in loans to support the acquisition of Collective Brands Inc. by Wolverine World Wide Inc., Golden Gate Capital Corp. and Blum Capital Partners LP. Photographer: Scott Eells/Bloomberg via Getty Images
Shoes are displayed for sale at a Payless ShoeSource Inc. store in New York, U.S., on Wednesday, May 2, 2012. JPMorgan Chase & Co. and Wells Fargo & Co. have committed to provide $1.725 billion in loans to support the acquisition of Collective Brands Inc. by Wolverine World Wide Inc., Golden Gate Capital Corp. and Blum Capital Partners LP. Photographer: Scott Eells/Bloomberg via Getty Images
Shoes are displayed for sale at a Payless ShoeSource Inc. store in New York, U.S., on Wednesday, May 2, 2012. JPMorgan Chase & Co. and Wells Fargo & Co. have committed to provide $1.725 billion in loans to support the acquisition of Collective Brands Inc. by Wolverine World Wide Inc., Golden Gate Capital Corp. and Blum Capital Partners LP. Photographer: Scott Eells/Bloomberg via Getty Images
Shoes are displayed for sale at a Payless ShoeSource Inc. store in New York, U.S., on Wednesday, May 2, 2012. JPMorgan Chase & Co. and Wells Fargo & Co. have committed to provide $1.725 billion in loans to support the acquisition of Collective Brands Inc. by Wolverine World Wide Inc., Golden Gate Capital Corp. and Blum Capital Partners LP. Photographer: Scott Eells/Bloomberg via Getty Images
Shoes are displayed for sale at a Payless ShoeSource Inc. store in New York, U.S., on Wednesday, May 2, 2012. JPMorgan Chase & Co. and Wells Fargo & Co. have committed to provide $1.725 billion in loans to support the acquisition of Collective Brands Inc. by Wolverine World Wide Inc., Golden Gate Capital Corp. and Blum Capital Partners LP. Photographer: Scott Eells/Bloomberg via Getty Images
A sign for women's shoes in size 8.5 is displayed at a Payless ShoeSource Inc. store in New York, U.S., on Wednesday, May 2, 2012. JPMorgan Chase & Co. and Wells Fargo & Co. have committed to provide $1.725 billion in loans to support the acquisition of Collective Brands Inc. by Wolverine World Wide Inc., Golden Gate Capital Corp. and Blum Capital Partners LP. Photographer: Scott Eells/Bloomberg via Getty Images
Shoes are stored in boxes at a Payless ShoeSource Inc. store in New York, U.S., on Wednesday, May 2, 2012. JPMorgan Chase & Co. and Wells Fargo & Co. have committed to provide $1.725 billion in loans to support the acquisition of Collective Brands Inc. by Wolverine World Wide Inc., Golden Gate Capital Corp. and Blum Capital Partners LP. Photographer: Scott Eells/Bloomberg via Getty Images
NEW YORK - SEPTEMBER 10: General view of atmosphere during the Payless ShoeSource celebration of Fashion's Night Out at Payless ShoeSource on September 10, 2010 in New York City. (Photo by Donald Bowers/Getty Images for Payless ShoeSource)
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