After closing 2,500 stores, Payless shoe stores will be back in business, The Wall Street Journal and multiple media outlets are reporting.
The company announced it will be opening 300 to 400 stand-alone stores across the country within the next three to five years, CNN reported.
Payless CEO Jared Margolis said in a news release, “We saw an opportunity for the brand to relaunch into the US market ... at a time when value couldn’t be more critical,” CNN reported.
When the company closed, it laid off 16,000 workers in the U.S. and Canada. Stores outside of North America remained in business, CNN reported.
The first store will open in Miami in the fall, The Wall Street Journal reported. That is the same area where the company is now headquartered, USA Today reported.
Thirty to 45 stores will be opened in early 2021, CNN reported.
The company will now be known as Payless, dropping Shoe Source from the name, USA Today reported.
Cox Media Group
