Question: What Is Stage Store Changing To?

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..

Is gordmans closing all their stores?

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 are the Bealls stores closing?

While the retailer had been seeking to bolster its financial position in recent months, “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 chief executive …

Is Stage store going out of business?

The retail community knew there would be retail fall-out from Covid-19. 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.

Is stage changing to gordmans?

In 2019, Stage Stores — which also operates the Bealls, Goody’s, Peebles and Palais Royal banners — converted 89 stores to its off-price Gordmans brand. … Plans called for the company to close 40 stores and convert the rest to Gordmans, which Stage acquired out of bankruptcy in 2017.

What is stage turning into?

The retailer plans to invest $30 million to transform some 600 Bealls, Goody’s, Palais Royal, Peebles and Stage stores into Gordmans, its off-price store selling brand-name apparel, accessories, cosmetics, footwear, home and pet goods at a lower price than typical department stores.

Does Stage Stores have a buyer?

US off-price department store operator Stage Stores is to wind down its business after failing to find a buyer. … The operator of the Gordmans, Bealls, Goody’s, Palais Royal, Stage and Peebles nameplates had hoped to stall the process by finding a buyer, but no viable bid has emerged.

Who bought out Bealls?

Bealls, the flagship store at the Plaza Shopping Center at Crockett Road and South Loop 256, has announced its closing, and will reopen as Gordman’s in 2020. Bealls, a fixture of the local economy for more than 40 years, is closing – sort of.

Why is stage going out of business?

“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 bought stage out?

Bain Capital cashed out of Stage Stores in 1997, netting the firm $117 million. Stage Stores filed for Chapter 11 bankruptcy two years later. After emerging from bankruptcy, the company continued to acquire competitors. It acquired Peebles in 2003 and purchased Goody’s in 2009.

Is gordmans closing for good?

ROANOKE, Va. – We could soon be seeing no Gordmans stores as the company’s more than 500 stores may close for good. … According to Stage Stores, the COVID-19 pandemic made financial matters worse, as it required the company to temporarily close all locations and furlough the majority of employees.