payless shoes news and archive

Payless launches "Powered by Payless" to aid at-home learning

Payless Shoes is working to help students, teachers and families as they approach the new school year. The footwear retailer, who recently emerged from bankruptcy and relaunched its North American business, has launched a new initiative called "Powered by Payless." Powered by Payless will partner with deserving schools across the U.S. to provide...

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Business

Payless Shoes is no longer bankrupt and might make a comeback

Payless ShoeSource has emerged from Chapter 11 bankruptcy protection after almost a year. The company voluntarily filed for Chapter 11 in February 2019, closing all 2,100 of its stores in the U.S. Now, the discount footwear retailer is out of bankruptcy and has a new management team. The new team is led by CEO Jared Margolis, previously of...

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Retail

Payless board authorizes DIP financing

After planning closure of all of its 2,100 U.S. stores, Payless ShoeSource will seek court approval for up to 25 million dollars in debtor-in-possession financing. The retailer's Board of Directors authorized this decision on Friday. The DIP financing request was submitted to the U.S. Bankruptcy Court in Missouri and will be reviewed early next...

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Business

Payless Shoes closes all 2,100 stores

Discount footwear retailer Payless Shoes is shuttering all business in the United States. All of the retailer's 2,100 locations in both the U.S. and Puerto Rico will close between March and May of this year, and the online store will close at some point as well. Payless first filed for bankruptcy in April 2017, closing 400 stores at the time. It...

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Fashion

Payless Shoes tricked influencers into paying luxury prices

Payless Shoesource proved that pricing is all about how an item is marketed. In a part-advertisement campaign, part-prank, part-social experiment, the budget footwear retailer convinced shoppers to pay luxury prices for bargain shoes. Payless created a fake luxury brand, which it called Palessi, and occupied a temporary retail space in a former...