Question: Why Is Gordmans Closing?

Is gordmans going out of business 2020?

Stores closing in 2020: 738 The latest retailer to find this out is Stage Stores, the owner of Gordmans off-price stores and a bunch of other regional brands, including Bealls, Goody’s and Peebles.

The company filed for bankruptcy on May 10 and said it would permanently shut down all of its stores..

Does Stage Stores have a buyer?

Stage Stores is providing financial details to potential bidders including eight who say they will keep open 200 to 500 locations operated by the retail chain.

Who owns gordmans store?

Stage StoresGordmans/Parent organizations

Why is stage closing?

As Retail Dive reported previously, Stage Stores began quietly laying off employees and closing stores in February as it worked through a liquidity crisis and negotiations with potential lenders and investors. … All of these challenges have proven insurmountable to Stage Stores on its own.

Is gordmans a stage store?

Stage Stores operates 782 department stores in 42 states, almost all of which either are or will soon be operated under its flagship brand, Gordmans, which it acquired in 2017. … On May 11, 2020, Stage Stores announced it had filed for Chapter 11 bankruptcy after failing to find a buyer for the chain.

What are Stage Stores changing to?

Stage Stores plans to transition entirely to its off-price Gordmans banner and exit department stores by the third quarter of fiscal 2020, the retailer said. Under the plan, the company aims to close 40 stores next year and convert its remaining department stores to Gordmans.

Why is gordmans going out of business?

Gordmans owner files for bankruptcy ‘after exhausting every possible alternative’ Stage Stores announced it has filed for Chapter 11 bankruptcy in response to the coronavirus pandemic. The company says they have been unable to “obtain necessary financing” since temporarily closing their stores.

Which gordmans are closing?

CEO blames coronavirus pandemic for anticipated nationwide closures. THUMB AREA — Less than one year after their grand openings in Bad Axe, Ludington, Manistee and Caro, Gordmans across the country may be closing their doors.

Are all gordmans going out of business?

Like many others, our business was significantly impacted by COVID-19. We temporarily closed all of our stores as we have worked to manage through this challenging environment. Despite all of our efforts, we have been unable to obtain necessary financing to continue operating as an independent business.

Why is Bealls closing?

Subscribe today. “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,” Michael Glazer, the company’s chief executive, said in a statement.

Who owns Bealls store?

Bealls Outlet is a privately held company, rich in tradition, owned by the founding family and its employees. Beall’s, Inc. is the parent company of Bealls Outlet Stores, Inc. The corporation operates over 500 retail stores.

Is Bealls closing all stores?

In March, Stage announced it was closing all of its 15 Bealls outlets in the Valley with the exception of the Port Isabel location. … Like all departments stores, the Stage brands have been shut down across the country due to coronavirus, and it anticipates reopening its 700 stores in phases beginning Friday.

Are the stage stores closing?

Retail stores have been suffering, and Stage Stores has filed Chapter 11, closing all its stores. … Stage operated stores under various names, including Goody’s, Bealls, and Palais Royal. However, you would not find these stores in major metro markets across the country.

Can you order gordmans online?

Gordmans is expanding its national presence with the launch of e-commerce. “Providing the option to preshop online, and then purchase online or in-store, helps us to better support our guest in how she wants to shop. …