Payless ShoeSource to open US stores after emerging from bankruptcy _ 2020

Topeka, Kansas -- Payless ShoeSource is relaunching in the U.S. after closing all 2,100 of its stores here last year due to bankruptcy, according to a company press release.

The retailer, based in Topeka, Kansas, filed for Chapter 11 bankruptcy in February 2019 and closed all U.S. stores by June, including a location on E. Third Street in Williamsport and at the Lycoming Mall.

The footwear retailer has maintained business in Latin America, Southeast Asia and the Middle East. Payless currently has 710 stores in those areas. The retailer, which is in its 62nd year of business, has appointed a new executive management team to work on strategy for 2020 markets.

“We intend to leverage Payless’ existing infrastructure, which is best in class and already includes product design and development, distribution, marketing and a strong relationship with major footwear manufacturers. Thus, providing the new Payless with the ability to be nimble, innovative and to fast-track our biggest growth opportunity, the United States,” said Chief Executive Officer Jared Margolis.

Payless also announced that they intend to relaunch its e-commerce site and open some physical store sites in the United States. Details on store locations and a specific timeline were  not made available. The retailer currently is selling some shoes on Amazon.com.

This is Payless’ second time rebounding from bankruptcy. The company first filed for Chapter 11 in 2017 and closed nearly 700 stores.

Related Reading: https://www.northcentralpa.com/business/payless-shoesource-update-stores-closing-liquidation-begins-sunday/article_3bc3c5fc-3221-11e9-8a56-bb488d87bfb8.html

https://www.northcentralpa.com/business/payless-shoesource-could-liquidate-if-buyer-not-found/article_0834ee36-3164-11e9-88f8-a31fa7ff8afa.html

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