Facebook with Latestnigeriannews  Twieet with latestnigeriannews  RSS Page Feed
Home  |  All Headlines  |  Punch  |  Thisday  |  Daily Sun  |  Vanguard   |  Guardian  |  The Nation  |  Daily Times  |  Daily Trust  |  Daily Independent
World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  More Channels...

Viewing Mode:

Archive:

  1.     Tool Tips    
  2.    Collapsible   
  3.    Collapsed     
Click to view all Entertainment headlines today

Click to view all Sports headlines today

Payless is staging a comeback less than a year after closing all its US stores in one of the largest retail liquidations in history

Published by Business Insider on Thu, 16 Jan 2020


Payless ShoeSource is relaunching in the US after emerging from Chapter 11 bankruptcy protection, the company said Thursday.Payless filed for Chapter 11 bankruptcy protection in February 2019 and subsequently closed all 2,100 of its US stores in what was one of the largest retail liquidations in history by store count.The company will relaunch its US website and open stores in the US, Payless said. It also hired a new management team.Sign up for Business Insider's retail newsletter, The Drive-Thru.Visit Business Insider's homepage for more stories.Payless is staging a comeback less than a year after executing one of the largest retail liquidations in history.The discount shoe retailer said Thursday that it has emerged from Chapter 11 bankruptcy protection with 710 stores in operation globally and a new team of executives.As part of its comeback, Payless will relaunch its US website and open new stores in the US, a company representative told Business Insider. Further details around the US relaunch will be revealed in the coming weeks, she said.Payless filed for Chapter 11 bankruptcy protection in February 2019 and subsequently closed all 2,100 of its US stores in what was one of the largest retail liquidations in history by store count. The company also shut down its US website, which now directs users to shop for its products on Amazon.Payless has since hired a new executive management team led by its new chief executive, Jared Margolis, who was formerly president of the brand management and licensing agency CAA-GBG.Payless also hired Justo Fuentes, former president of BATA Latin America, to serve as CEO of its Latin American division, which is currently the company's largest business unit."We intend to leverage Payless' existing infrastructure, which is best in class and already includes product design, development, distribution, marketing, and a strong relationship with major footwear manufacturers," Margolis said in a statement. "Thus, providing the new Payless with the ability to be nimble, innovative, and to fast-track our biggest growth opportunity: the United States."The company said it plans to unveil a new strategy in 2020 that involves collaborating with "high-profile individuals and brands to ensure exclusive product offerings at a compelling price-point for its loyal base." The company said it's also considering new technologies to streamline the customer experience.SEE ALSO:Pier 1 erased more than 260 stores from its website after announcing it would close hundreds of stores. Here's the full list.Join the conversation about this storyNOW WATCH: Gold can cost $1,500 per ounce ' here's why it's so expensive
Click here to read full news..

All Channels Nigerian Dailies: Punch  |  Vanguard   |  The Nation  |  Thisday  |  Daily Sun  |  Guardian  |  Daily Times  |  Daily Trust  |  Daily Independent  |   The Herald  |  Tribune  |  Leadership  |  National Mirror  |  BusinessDay  |  New Telegraph  |  Peoples Daily  |  Blueprint  |  Nigerian Pilot  |  Sahara Reporters  |  Premium Times  |  The Cable  |  PM News  |  APO Africa Newsroom

Categories Today: World  |  Sports  |  Technology  |  Entertainment  |  Business  |  Politics  |  Columns  |  All Headlines Today

Entertainment (Local): Linda Ikeji  |  Bella Naija  |  Tori  |  Pulse  |  The NET  |  DailyPost  |  Information Nigeria  |  Gistlover  |  Lailas Blog  |  Miss Petite  |  Olufamous  |  Stella Dimoko Korkus Blog  |  Ynaija  |  All Entertainment News Today

Entertainment (World): TMZ  |  Daily Mail  |  Huffington Post

Sports: Goal  |  African Football  |  Bleacher Report  |  FTBpro  |  Kickoff  |  All Sports Headlines Today

Business & Finance: Nairametrics  |  Business Insider  |  Forbes  |  Entrepreneur  |  The Economist  |  BusinessTech  |  Financial Watch  |  BusinessDay  |  All Business News Headlines Today

Technology (Local): Techpoint  |  TechMoran  |  TechCity  |  Innovation Village  |  IT News Africa  |  Technology Times  |  Technext  |  Techcabal  |  All Technology News Headlines Today

Technology (World): Techcrunch  |  Techmeme  |  Slashdot  |  Wired  |  Hackers News  |  Engadget  |  Pocket Lint  |  The Verge

International Networks:   |  CNN  |  BBC  |  Al Jazeera  |  Yahoo

Forum:   |  Nairaland  |  Naij

Other Links: Home   |  Nigerian Jobs