Payless ShoeSource is set to emerge from bankruptcy as soon, one of the largest retail chains to do so, and is banking on a strategy focused primarily on bricks-and-mortar sales at a time when e-commerce is casting an ever-growing footprint on retail sales, Reuters reported. Payless' emergence essentially gives the company a do-over after disposing of half of $847 million of debt it had built up under its private-equity ownership. With a cleaned-up balance sheet, Payless is seeking to position itself to compete in a tight U.S. market, open more stores across Latin America — a major part of its growth strategy — and develop new franchises in Asia.
