Gordmans parent Stage Stores files for bankruptcy; liquidation possible
Stage Stores, Inc., the parent company of Gordmans, filed for voluntary petitions under Chapter 11 of the Bankruptcy Code late Sunday. According to a press release, the company will simultaneously solicit bids to acquire its assets while also initiating an "orderly wind-down of operations" should no acquisition become finalized.
Gordmans escaped liquidation previously and was on track to close all stores in 2017 until Stage Stores acquired the retailer and won the right to keep some stores operating, including
In February 2020, the company announced the closure of its
. Its stores in Bismarck and Minot were not affected in that announcement.
that the company operates 738 stores in 42 states, under Gordmans and other brands. Stage Stores said in its press release that its first phase of approximately 557 stores will re-open on May 15th to "commence the liquidation of its inventory."
The ultimate impact of the Bismarck and Minot stores is still unclear at this time. We will provide ongoing updates as they become available.