The parent company of Gordmans, the clothing retailer in the town of Louisa, announced on May 11 that it has filed for bankruptcy.
The store’s grand opening in the space formerly occupied by Peebles was canceled at the last minute in March as the coronavirus crisis began. The business has been closed for most of the past two months.
Stage Stores, based in Houston, Texas, filed a petition under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court, according to published reports. Stage plans to wind down operations, but those plans could be halted at certain locations if the company receives a viable offer to purchase all or part of the business. First, however, the Louisa store will reopen to customers.
The Wall Street Journal reported on Feb. 11 that Gordmans’ parent firm was considering filing for bankruptcy and had been late in paying some vendors.