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<ul class="summary-list"><li><keyword id="2624924" type="PERSON" weightage="60" keywordseo="Payless">Payless</keyword> Worldwide Inc., formerly known as <keyword id="1143241" type="COMPANY" weightage="60" keywordseo="Payless-ShoeSource">Payless ShoeSource</keyword> Inc., announced on Tuesday that it will open 400 stores in the next five years.</li><li>The first store location plans to open in South Florida as a part of the company's third comeback attempt.</li><li>Payless released a new video on its website to celebrate the announcement.</li></ul><p>Payless Worldwide Inc. on Tuesday announced that it's pursuing a restart even as the coronavirus pandemic continues to make operations difficult for a handful of <keyword id="6354851" type="UNKNOWN" weightage="100" keywordseo="retail">retail</keyword> companies.</p><p>Formerly called Payless ShoeSource Inc. before <a href="https://www.businesswire.com/news/home/20200116005047/en/Payless-ShoeSource-Emerges-Bankruptcy-New-Executive-Team">filing for bankruptcy</a> in February 2019, the global discount footwear chain has laid out a plan to open over 400 new stores across North American in the next five years as its third comeback gets underway.</p><p>"Starting from scratch puts us in a good position," Payless CEO <keyword id="9782355" type="UNKNOWN" weightage="60" keywordseo="jared-margolis">Jared Margolis</keyword> said in a <a href="https://www.wsj.com/articles/shoe-seller-payless-attempts-a-comeback-11597723200?mod=hp_lista_pos5">report</a> by the Wall Street Journal. "Payless has a brand that people know, and it's betting on that recognition to get consumers to pay attention in a crowded market."</p><p>The company plans to open its first new location in <a href="https://www.wsj.com/articles/shoe-seller-payless-attempts-a-comeback-11597723200?mod=hp_lista_pos5">Miami,</a> according to the Wall Street Journal, while hoping to reshape its brand and overall image of selling low-priced shoes.</p><p>"Payless never did a great job of educating consumers about its products," Margolis <a href="https://www.wsj.com/articles/shoe-seller-payless-attempts-a-comeback-11597723200?mod=hp_lista_pos5">said,</a> referencing the company's prior business <a href="https://www.businesswire.com/news/home/20200116005047/en/Payless-ShoeSource-Emerges-Bankruptcy-New-Executive-Team">miscues </a>after it previously closed approximately 2,500 stores. "These are inexpensive shoes, but that doesn't mean we can't create a cool, fun experience."</p><p>Payless released a <a href="https://www.payless.com/">new video</a> on its website to celebrate the <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword>.</p>

Twice-bankrupt Payless is trying again — and plans to open 400 stores over the next 5 years

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>AP</span></p><p class="caption">Former Subway pitchman Jared Fogle leaves the Federal Courthouse in Indianapolis, Wednesday, August 19, 2015, following a hearing on child-pornography charges.</p></div><p></p></div></div>Former Subway spokesman Jared Fogle is seeking psychiatric help and "expects to go to prison" after he pleads guilty to <a href="http://www.businessinsider.com/jared-fogle-charged-with-engaging-in-sexual-acts-with-minors-2015-8">p</a><a href="http://www.businessinsider.com/jared-fogle-charged-with-engaging-in-sexual-acts-with-minors-2015-8">ossessing child pornography and traveling to pay for sex with minors</a>, according to his attorney.</p><p>"He will do his time," Fogle's lawyer, Jeremy Margolis, said at a press conference outside the Indianapolis courthouse on Wednesday.</p><p>Fogle is facing five to 20 years in federal prison and at least five years of supervised release following his prison term.</p><p>Prosecutors have said they won't pursue a prison term of more than 12.5 years, but a judge will ultimately determine his sentence.</p><p>"Jared Fogle is agreeing to plead guilty to the charges filed against him today," Margolis said. "In doing so, Jared is accepting responsibility for what he has done. He is also volunteering to make restitution to those affected by his deplorable behavior. "</p><p>Fogle also "knows he has a medical problem" and has sought evaluation by a "world-class psychologist" to get well, Margolis said. He didn't provide details on Fogle's diagnosis.</p><p>Fogle, 37, is accused of repeatedly traveling to New York City to engage in sex with minors, as well as possessing and distributing child pornography. The charges involve 14 minors, and he's accused of having sex with two of them.</p><p>Fogle appeared before a judge on Wednesday and entered a not-guilty plea, which will later be changed to guilty, according to his lawyers. He has <a href="http://www.businessinsider.com/ex-subway-spokesman-jared-fogle-will-pay-14-million-to-14-child-porn-victims-2015-8">agreed to pay $100,000 to each of the victims</a> for a total of $1.4 million.</p><p>Prosecutors said Wednesday that Fogle, who was Subway's spokesman for 15 years, used his celebrity status to take advantage of children.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>AP</span></p><p class="caption">Former Subway pitchman Jared Fogle leaves the Federal Courthouse in Indianapolis, Wednesday, August 19, 2015, following a hearing on child-pornography charges.</p></div><p></p></div></div> They said he was soliciting minors for sex during business travel, which may have related to his work as Subway's spokesman or his work with the Jared Foundation, a charitable foundation he founded to help kids eat healthy.</p><p>The case against Fogle proves that "fame and fortune will not protect you," Indiana State Police Superintendent Doug Carter said during a press conference Wednesday. "We will find you."</p><p>Subway and Fogle ended their relationship after the FBI raided his Zionsville, Indiana, home last month.</p><p>After prosecutors announced the charges on Wednesday, Fogle's wife, Katie Fogle, <a href="http://www.businessinsider.com/jared-fogles-wife-is-filing-for-divorce-following-child-porn-charges-2015-8">revealed that she is divorcing him</a>.</p><p>The couple has two young children.</p><p>"Obviously, I am extremely shocked and disappointed by the recent developments involving Jared," she said in a statement through her lawyers. "I am in the process of seeking a dissolution of the marriage. My focus is exclusively on the well-being of my children."</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/legend-trailer-with-tom-hardy-2015-6">Tom Hardy makes a crazy transformation playing identical twins in this new gangster movie</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="1uYjh4dTpwTQV0B9vjmmDX3JuE4LMeFF" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

Ex-Subway spokesman Jared Fogle is seeking psychiatric help and 'expects to go to prison' for having sex with minors

<ul class="summary-list"><li><a href="https://www.businessinsider.com/category/payless">Payless ShoeSource</a> is relaunching in the US after emerging from Chapter 11 <a href="https://www.businessinsider.com/category/bankruptcy">bankruptcy</a> protection, the company said Thursday.</li><li>Payless <a href="https://www.businessinsider.com/payless-files-for-bankruptcy-closes-all-stores-2019-2">filed</a> for Chapter 11 bankruptcy protection in February 2019 and subsequently <a href="https://www.businessinsider.com/payless-stores-closing-liquidation-sales-photos-2019-2">closed</a> all 2,100 of its US stores in what was one of the largest retail liquidations in history by store count.</li><li>The company will relaunch its US website and open stores in the US, Payless said. It also hired a new management team. </li><li><a href="http://newsletter.businessinsider.com/join/4np/drivethru">Sign up for Business Insider's retail newsletter, The Drive-Thru</a>.</li><li><a href="https://www.businessinsider.com/?hprecirc-bullet">Visit Business Insider's homepage for more stories</a>.</li></ul><p>Payless is staging a comeback less than a year after executing one of the largest retail liquidations in history.</p><p>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.</p><p>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.</p><p>Payless filed for <a href="https://www.businessinsider.com/payless-bankruptcy-gift-cards-return-deadline-2019-2">Chapter 11 bankruptcy protection</a> in February 2019 and subsequently <a href="https://www.businessinsider.com/payless-stores-closing-liquidation-sales-photos-2019-2">closed all 2,100 of its US stores</a> 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.</p><p>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 <a href="http://www.caa-gbg.com/">CAA-GBG</a>.</p><p>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.</p><p>"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."</p><p>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.</p>

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

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Twice-bankrupt Payless is trying again — and plans to open 400 stores over the next 5 years

Evan Sully

Ex-Subway spokesman Jared Fogle is seeking psychiatric help and 'expects to go to prison' for having sex with minors

Hayley Peterson

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

Hayley Peterson

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