- Real Estate
- Food & Drink
May 13, 2020
The parent company of Gordmans has filed for Chapter 11 bankruptcy and plans to start reopening and liquidating its stores in three phases beginning Friday.
The Gordmans store on The Empire Mall campus is not on the list of initial stores that will reopen.
Houston-based Stage Stores Inc. began temporarily closing stores in March because of the COVID-19 pandemic and shut down all remaining locations March 27. It has 738 stores that operate under a half-dozen brands.
The company said in a statement that it plans to reopen 557 stores Friday, 67 stores May 28 and the remaining locations June 4.
Stage Stores is searching for a buyer and will suspend the liquidation sales if one is found, according to the statement.
“The increasingly challenging market environment was exacerbated by the COVID-19 pandemic, which required us to temporarily close all of our stores and furlough the vast majority of our associates,” president and CEO Michael Glazer said. “Given these conditions, we have been unable to obtain necessary financing and have no choice but to take these actions.”
Stage Stores acquired the Gordmans brand when the Omaha-based retailer filed for bankruptcy in 2017. Gordmans and earlier variations of the business have been in Sioux Falls since at least 1990.
Stage Stores said it expects to honor gift cards and returns for the first 30 days after a store reopens.
Unless a buyer is found, Gordmans on The Empire Mall campus will begin a liquidation sale in either late May or early June. Its parent company has filed for bankruptcy.