(WKOW/CNN) -- Payless, the footwear retailer that closed all its US locations last year, is making a comeback.
In a press release Tuesday, the retailer said it plans to open 300 to 400 standalone stores across the nation in the next three to five years.
The company sells a variety of shoes including sneakers, boots, and dress shoes at a low price. Payless officials think customers are looking for budget-friendly products right now.
"We are fully aware that we're relaunching in a time when many have lost their jobs, finances are tight, and parents nationwide are adjusting to working from home, facilitating at-home schooling for their children," Jared Margolis, the company's CEO, said in a press release. "We saw an opportunity for the brand to relaunch into the US market... at a time when value couldn't be more critical."
The discount shoe retailer filed for Chapter 11 bankruptcy protection in 2019, less than two years after it emerged from its previous bankruptcy.
Payless said its website will reopen for business on Tuesday.
