Payless is back and opening its first U.S. store in November

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The retailer said it plans to open 300 to 400 stand-alone stores across the country over the next three to five years. The company, which sells sneakers, boots and dress shoes for prices as low as around $ 10 a pair, believes now is a good time to attract budget-conscious shoppers.

“We are fully aware that we are relaunching at a time when many have lost their jobs, finances are tight and parents across the country are adjusting to working from home, making it easier for their children to get home schooled,” Jared Margolis, CEO of the company, said in a press release. “We saw an opportunity for the brand to relaunch itself in the US market… at a time when value couldn’t be more critical.

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The discount shoe retailer filed for Chapter 11 bankruptcy protection in 2019, less than two years after exiting from previous bankruptcy. The business was plagued with too much debt and too many stores. He was also not prepared for the switch to online shopping.

It therefore closed its stores in the United States and Canada and laid off 16,000 employees. The company said at the time that it would keep stores open outside North America.

In January, the company said it was out of bankruptcy protection and appointed a new management team, including Margolis.

Payless, which closed all of its U.S. stores in 2019, is expected to open its first store later this year in Miami.

The first Payless store is slated to open in November in Miami, where its new headquarters are located. Payless said it plans to open 30 to 45 stores in early 2021 in Texas and other border states.

These stores will open in addition to its existing fleet of 700 international stores, including franchise locations. Payless said its new U.S. stores will have an “updated” look, like smart mirrors, touchscreen wall panels and AR-powered foot comparison charts.

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Payless said its website will reopen on Tuesday. It will include a mix of clothing, accessories and footwear from its own private labels and newer brands joining the portfolio, such as Kendall + Kylie and Aerosoles.

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