Payless- #32
Founded in 1956 by cousins Louis and Shaol Pozez in Topeka, Kansas, Payless started as a small family-run business. Through offering trendy shoes at budget-friendly prices, it quickly built a reputation for making fashion accessible, especially for families on tight budgets.
The 1960s marked the beginning of Paylessโs rapid expansion. The company acquired smaller brands like Picway Shoes and Parade of Shoes, broadening its footprint across the U.S. By the 1980s, Payless had become a household name, with stores popping up in malls and shopping centers nationwide. Its mission remained clear: deliver fashionable footwear at unbeatable prices to the masses.
In 1996, Payless took a major step by going public, opening doors to further growth and diversification. The 2000s saw the company undergo significant ownership changes, culminating in a major merger in 2007 with Collective Brands Inc., which helped boost its profile but also exposed it to new financial pressures.
As the 2010s rolled in, the retail landscape changed drastically. E-commerce and online shopping began to shift consumer habits, and competition from both online giants and other discount retailers intensified. These challenges hit Payless hard, leading to financial struggles. The company filed for Chapter 11 bankruptcy twice, in 2017 and again in 2019, which resulted in the closure of all 2,100 stores in the United States (international stores were not impacted).
"Payless emerged from bankruptcy on January 16, 2020, with plans to re-launch a U.S. e-commerce site. On August 18, 2020, Payless, officially dropping 'ShoeSource' from its name, did relaunch its e-commerce website. It also announced plans to open between 300 and 500 free-standing stores in North America over the next five years and relocated its company headquarters from Topeka, Kansas to Edgewater, Florida."
As of today, this is the message greeting U.S. customers on payless.com: "We appreciate your patience with us as we're busy behind-the-scenes working on a shopping experience that will knock your socks off." In addition, in small print, "Effective August 11, 2023, retail sales in North America on Payless.com are no longer available. Please note that all orders made on or after June 6, 2023, are final and non-returnable. We thank you for your patience as we continue to work diligently on the future of Payless.com." [Wikipedia]
As of today, Payless is non-existent in the U.S. retail marketplace.
