Payless relaunches its brand
Payless is back a new e-commerce platform and plans to open hundreds of brick-and-mortar retail concept stores across North America.
Payless filed for a second Chapter 11 bankruptcy protection in February 2019 and shuttered the remaining 2,000-plus stores in North America. Its 700 stores internationally were unaffected by the bankruptcy.
The retailer gave a hint to its plans in earlier this year. And now we know more. “Shoesource” has been dropped from the name and the retailer plans to offer apparel and accessories along with shoes. Some 300 to 500 free-standing stores across North America will be opened over the next five years. The first prototype store will be in Miami, near Payless’ headquarters.
“We're back and bringing more community responsibility, fashion-forward footwear, and on-trend partnerships to our 60 million + Payless customers who have missed us,” said Jared Margolis, chief executive officer of Payless. “We saw an opportunity for the brand to relaunch into the U.S. market, providing our community with the affordable, value driven products they've always searched for, now across multiple categories, at a time when value couldn't be more critical. Payless is for everyone, and now more than ever, the world needs to pay-less. We are so excited to bring Payless back to you, so you and future generations to come can lead the way forward.”
Payless was founded in 1956 in Topeka, Kan.