Payless ShoeSource announced Thursday that it has emerged from Chapter 11 bankruptcy, The Wall Street Journal reported.
But customers in the U.S. should not expect stores to reopen anytime soon, according to CNN Business.
Payless filed for bankruptcy in February 2019 after previously filing for bankruptcy in April 2017, CNBC reported.
The company’s new management team will focus on its international operations, including stores in Latin America, the Caribbean, Southeast Asia, North Africa and the Middle East, The Wall Street Journal reported. Payless has approximately 700 brick-and-mortar stores in more than 30 countries, the company said.
According to Pix11, Payless plans on relaunching its U.S. e-commerce website, and would like to reopen physical stores in the future, but no timetable was provided. In the meantime, Payless customers in the U.S. can shop through its Amazon store.
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