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Parent company of Gordmans files for Chapter 11 bankruptcy
HOUSTON, TX (WENY) -- Some stores forced to close amid COVID-19 restrictions may not reopen their doors.
Stage Stores, the parent company of Gordmans, has filed for bankruptcy.
The Houston-based company has about 700 department stores, including in Hornell and Penn Yan.
Company President Michael Glazer says if Stage Stores receives a viable going-concern offer, it will stop the wind-down process at certain locations. Otherwise, when the Southern Tier regions enters the second phase of Governor Cuomo's reopening plan, Gordmans locations will reopen, just to shut down.
The company plans to begin liquidation sales Friday at about 557 stores.
Glazer says the company is searching for a buyer.