The classic shoe store chain will return in November.
Despite filing for bankruptcy protection for a second time and shutting down thousands of stores, everyone’s favorite discount shoe store chain is making a comeback. Last year Payless shut down over 2,000 stores in the United States, but now, within the next three to five years, the company is planning to open 300 to 400 new standalone stores nationwide.
In a press release, Jared Margolis, the CEO of Payless, said, “We are fully aware that we’re relaunching in a time when many have lost their jobs, finances are tight, and parents nationwide are adjusting to working from home, facilitating at-home schooling for their children. We saw an opportunity for the brand to relaunch into the US market… at a time when value couldn’t be more critical.”
Payless is known for selling sneakers, heels, boots, and dress shoes at prices as low as $10 a pair, so for the budget-conscious shopper, the comeback of the discount shoe chain is a plus.
In 2019, Payless filed for Chapter 11 bankruptcy protection, less than two years after coming out of a previous bankruptcy. The company claimed that it carried too much debt and too many stores. It was also unprepared to make the shift to online shopping. As a result, stores in Canada and the U.S. closed, and nearly 16,000 employees were laid off. International stores outside of North America remained open.
Eyeing its fresh comeback this year, the first Payless store is planned to open in November in Miami, also home of the company’s new headquarters. By 2021, Payless hopes to open 30 to 45 new storefronts across the U.S. Stores will utilize new technology such as smart mirrors, touchscreen wall panels, and advanced foot comparison charts.
The company’s website will relaunch for business on Tuesday and will also feature a mix of clothing and accessories in addition to footwear.