Joint venture partners Gordon Brothers and Hilco Merchant Resources announced that they have started “Going-Out-of-Business” sales at 720 Stage Store locations, including Gordmans as well as Stage, Bealls, Goody’s, Palais Royal, and Peebles stores.
The company filed for Chapter 11 bankruptcy protection in May to explore recapitalization options as part of a larger restructuring strategy. The challenging preexisting market conditions were exacerbated by COVID-19 and prevented the retailer from obtaining the required financing to continue operating stores outside of bankruptcy. While the company continues to follow a dual path, going-out-of-business sales have now started across all Gordmans and Stage stores as well as Bealls, Goody’s, Palais Royal and Peebles stores.
A spokesperson from Gordon Brothers and Hilco Merchant Resources said, “Customers can shop confidently as stores have implemented protocols to ensure a safe “easy in, easy out” shopping environment. We encourage customers to take advantage of significant discounts and shop early for the best selection. Store teams remain committed to providing customers with the same great experience while offering even better deals and value.”
Photo courtesy Gordman’s