Payless ShoeSource emerges from Chapter 11 bankruptcy and plans to open some U.S. stores
The last Payless ShoeSource stores in the U.S. closed in June 2019. (Photo: Kelly Tyko, USA TODAY)
Payless ShoeSource may have closed its last U.S. stores in June, but it’s already planning a comeback.
The Topeka, Kansas-based company announced in a news release Thursday that it has emerged from Chapter 11 bankruptcy for the second time. The footwear company says it will have a focus on international markets and wants to reinvigorate its largest business unit, Latin America.
Payless, which is still selling some of its shoes on Amazon.com, says it will also relaunch its U.S. e-commerce site and open some physical stores in the U.S. Specific details, including a timeline, were not available.
Jared Margolis, the company’s new CEO, said in a statement that officials “intend to leverage Payless’ existing infrastructure” to provide the new Payless “the ability to be nimble, innovative, and to fast-track our biggest growth opportunity: The United States.”
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