Established in 1956 by cousins Louis and Shaol Pozez, Payless was a privately held company owned by Blum Capital, and Golden Gate Capital. In 1961, it became a public company as the Volume Shoe Corporation which merged with The May Department Stores Company in 1979.

But it also faced profound challenges. Many malls and shopping centers were entering a death spiral, with falling foot traffic, store closings and underinvestment. People were increasingly buying shoes online, along with most everything else. Payless had underinvested in its information technology infrastructure.

HOUSTON – Payless is back. The shoe retailer, which has formally dropped the name “Shoesource” from its brand name, announced in a press release Tuesday that it is opening new online retail options and new brick-and-mortar locations.

Payless - Our motto: When in doubt, buy 'em all.

Amid the fitness and sneaker crazes of the 1980s, Payless found success with its Pro Wings sneakers. Selling for just $15 to $20, the sneakers featured Velcro straps instead of laces - and with their price and practicality became a popular choice among schoolchildren. Payless ShoeSource Inc.

June 2019 Payless filed for bankruptcy in 2017 and again in February 2019 after a failed restructuring plan. The company exited the American market when it closed the last of its 2,000-plus stores in June 2019.

adidas claimed Payless' lower-cost athletic shoes could dilute its famous logo in the minds of consumers and tarnish its brand by association with a lower-quality product. In 2008, the jury found in favor of adidas, awarding $305 million, believed to be the largest verdict in a trademark case.

Payless, which shuttered all of its US stores in 2019, is set to open its first store later this year in Miami. The first Payless store is slated to open in November in Miami, where its new headquarters are located. Payless said it plans to have 30 to 45 stores open in early 2021 in Texas and other border states.

Payless has relaunched, with a slightly different name. The budget shoe store closed more than 2,000 stores in North America last year after filing for its second bankruptcy. Good news, shoe lovers!

Target's Target's slogan is 'expect more pay less'.

1956Payless / Founded

Payless, which shuttered all of its US stores in 2019, is set to open its first store later this year in Miami. The first Payless store is slated to open in November in Miami, where its new headquarters are located. Payless said it plans to have 30 to 45 stores open in early 2021 in Texas and other border states.