Retail

Payless ShoeSource emerges from bankruptcy—again

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A pedestrian walks by a Payless Shoe Source store on April 5, 2017 in San Francisco.

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Payless ShoeSource said Thursday it has emerged from Chapter 11 bankruptcy protection for a second time, with a renewed focus on its international operations.

It last filed for bankruptcy in February 2019 and ultimately shut down all of its 2,500 U.S. stores. The retailer — founded in 1956 in Topeka, Kansas — also wound down its e-commerce operations. But the liquidation did not impact its franchised or Latin American stores.

Payless first filed for bankruptcy in April 2017, eliminating nearly 700 stores and roughly $435 million in debt. It emerged about four months later.

The company has…



Source cnbc.com

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