Payless promises US comeback
Payless Worldwide, the new name of the former Payless ShoeSource group, has announced a comeback in its home market the US.
The company filed for bankruptcy protection in February 2019 and closed all of its US stores by June 2019. It kept trading through approximately 700 stores in Central America, the Caribbean, South America and parts of Asia, the Middle East and North Africa.
Now Payless has said it plans to open stores in the US again; its aim is to open 400 stores across North America in the next five years.
Jared Margolis, who took over as chief executive in October, recently told the Wall Street Journal that, while the company was sure consumers would remember and recognise the Payless name, “starting from scratch” put the company in a good position.
