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..Over seven years, Payless went through a wringer of private equity and hedge fund stewardship that left it with inadequate technology, run-down stores and no financial cushion to survive an era of upheaval in retail. .. Financial managers exert greater control over nearly all American companies than they once did. Their willingness to cause some pain — to close factories, lay people off, renegotiate arrangements with longtime suppliers — is, many economists argue, a feature, not a bug .. The American economy has become markedly less dynamic. Fewer businesses are being started, and the newcomers are having less success unseating...

Payless, a brand known for budget-friendly shoes, opened a fake pop-up store called "Palessi" in a Los Angeles mall and invited influencers to the grand opening. The store was stocked with Payless shoes in disguise. "I would pay $400 or $500," a woman says in a TV ad, holding a pair of $19.99 sneakers. Another shopper calls the Payless shoes "elegant and sophisticated." Content by Fidelity Investments 6 habits of successful investors Successful investing habits that we've witnessed over the years—and how to make them work for you. The stunt even included a sleek website and an Instagram account.

Payless Shoesource pranked VIP shoppers into paying markups of up to 1,800 percent for the bargain retailer's shoes as part of a viral advertising campaign designed to shift consumers' perceptions of the brand. Creating a fake luxury brand — Palessi — Payless built a temporary store and filled it with fashionistas. So-called fashion influencers – essentially trendsetters that regular consumers look to for style cues — paid up to $645 for footwear that usually retails for between $19.99 and $39.99, the company said. The fashion insiders were captured remarking on the quality of the shoes' design and fabrication – before...

Shoe chain Payless ShoeSource has filed for Chapter 11 bankruptcy protection, becoming the latest retailer to succumb to increasing competition from online rivals like Amazon. The Topeka, Kansas-based retailer said Tuesday that it will be immediately closing nearly 400 stores as part of the reorganization. It has over 4,400 stores in more than 30 countries and was founded in 1956. […] Shoppers are increasingly shifting their buying online or going to discount stores like T.J. Maxx to grab deals on designer brands. That shift has hurt traditional retailers, even low-price outlets like Payless. …

The woman demanded that one of the employees put cash in a plastic bag she was carrying. The worker complied, and the woman left through a back door. "I'm sorry, I have four kids," the woman said as she left, according to deputies.

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