Gordmans Files for Bankruptcy, Casualty of Pandemic

Gordmans department store opened in February, closed a month later because of the pandemic and now may open only to liquidate.

The discount retailer's parent company, Stage Stores, filed for voluntary Chapter 11 bankruptcy on March 10 with the intent to "wind down" its more than 600 outlets if necessary in part because of the financial impact of the novel coronavirus.

In the statement, the company said it will begin liquidation but will also try to sell the business or any of its assets. If a viable buyer comes forward, closure efforts will be suspended but if not, the liquidation will continue.

Stage Stores has occupied the space in the former Kmart Plaza off Main Street since 2006 with the opening of a Peebles department store. Last year, the retailer began the switch to the Gordmans line, which was touted as something of a small-size T.J. Maxx.

Outside of Walmart, the only other clothing store in the city is discount retailer Label Shopper in the same plaza.

Read the complete story at iBerkshires.com.