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Payless Shoes is back from bankruptcy; new store slated to open in November

Payless Shoes is back from bankruptcy; new store slated to open in November
Posted at 10:00 AM, Aug 18, 2020
and last updated 2020-08-18 12:00:34-04

Payless Shoes emerged from bankruptcy in January, after closing all of their U.S. brick-and-mortar locations. Now, the company says they have plans to open a couple hundred new stores.

The discount store chain relaunched their website in mid-August, featuring brands like LA Gear, Airwalk and American Eagle. They also announced they will be opening a new store location, with a redesigned layout, in Miami this November, with plans to open 300 to 400 stores in the coming years.

Through the bankruptcy protection process, Payless continued to operate 700 international store locations.

“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,” CEO Jared Margolis said in a statement. “We saw an opportunity for the brand to relaunch into the US market… at a time when value couldn’t be more critical.”

Payless filed for Chapter 11 bankruptcy protection in 2019, less than two years after it emerged from a previous bankruptcy filing.