But analysts said those gains weren't enough to protect the company from the coronavirus pandemic, which forced it to temporarily close its stores and furlough nearly all of its employees in March. Americans are increasingly shopping online instead of at malls, and analysts say that dynamic is likely to solidify in the coming months, even as states and municipalities begin lifting stay-at-home orders. Losing an anchor department store, analysts say, will only hasten their demise. Pier 1 is a national retailer selling furniture, home décor and accessories. Losing an anchor department store, analysts say, will only hasten their demise. Stage Stores owns the Gordman's off-price discount stores at the Treasure Valley Marketplace in Nampa and at the Village at Meridian. Stage Stores was a department store company specializing in retailing off-price brand name apparel, accessories, cosmetics, footwear, and housewares throughout the United States. If Stage Stores receives a viable acquisition bid, the retailer will cease its wind-down operations at certain locations. Stage Stores, Gordmans' parent company, says it will suspend liquidating its stores if a buyer is found. More : … Recommended to you based on your activity and what's popular • Feedback But analysts said those gains were not enough to protect the company from the coronavirus pandemic, which forced it to temporarily close its stores and furlough nearly all of its employees in March. Stage Stores, which bought the Gordmans chain in 2017, has filed for bankruptcy and plans to liquidate the department stores’ inventory after … The efforts had been largely successful: Same-store sales — a closely watched measure at stores that have been open for at least one year — rose more than 17 percent in the most recent quarter. Its shares are down more than 95% this year. (Mark Lennihan / AP) The initial batch of 557stores will reopen and launch their sales on May 15, while a second set of approximately 67stores will open STAGE STORES, INC., © 2021 The Philadelphia Inquirer, LLC Terms of Use/Privacy Policy/California Notice California residents do not sell my data request. We answer one every day in our coronavirus newsletter, How to help: Your community | Seniors | Restaurants | Keep at-risk people in mind. Stage Stores portfolio includes Stage department stores, Bealls, Goody's and Palais Royal. Texas was hit hardest in the bankruptcy thinning, with 17 closings. Stores were usually located in shopping malls and centers or in standalone locations. Discounts, tax breaks and bonuses: How governments and employers are incent... For $149, this Oakland Airport vending machine dispenses covid tests. Most of the wholesale customers who purchase our Closeout Sales and Wholesale Merchandise are customers who resell in Auction Houses, Ebayers, Craigs Listers, Exporters, Brokers and Retailers. The company has very few cash reserves.". Home About Us Living Room Dining Room Bedroom Office Contact Us. • Stage Stores, which operates about 738 stores under a variety of nameplates, including Bealls, Palais Royal, Peebles, Stage, Goody's and Gordmans, … Vaccines alone won’t solve the pandemic. Stage Stores, whose brands include Gordmans, filed for Chapter 11 bankruptcy. The most important news stories of the day, curated by Post editors and delivered every morning. The company’s plan to complete liquidation and shutdown the … Pier 1. The latest victim of the retail apocalypse is Stage Stores, which received approval to liquidate from the U.S. Bankruptcy Court in Houston on Aug. 14. Graphic: The iconic brands that could disappear because of coronavirus. Stage Stores has run out of time. The retailer has 738 stores across a half-dozen brands, including the off-price chain Gordmans and the Peebles and Stage department stores, in small towns and rural areas in 42 states. According to its website, Stage entered an off-price segment to acquire Gordmans in 2017. “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. The Houston-based company said it is searching for a buyer and plans to reopen and liquidate its stores beginning Friday. It will begin reopening stores that have been closed by the pandemic, with approximately 557 outlets slated to open on May 15 for liquidation … Storewide liquidation sales are in progress. Department store chains and mall-based retailers that sell clothing, housewares and other discretionary goods are at particular risk, analysts say. J. Stage Stores Inc., the owner of rural department and discount stores including Goody’s, Peebles and Gordmans, filed for bankruptcy protection, adding to the toll of traditional retailers … Business news and analysis sent straight to your inbox every Tuesday morning. Its shares are down more than 95% this year. Superspreader Sunday? Most of the Closeouts and Liquidations ship directly from the department store reclamation centers, directly to you. The Services. The … Stage Stores announced Sunday that the company has filed for Chapter 11 Bankruptcy. Stage Stores will begin liquidation sales at 550 stores Friday, with others following suit in coming weeks. Stage Stores, which operates hundreds of Palais Royal, Bealls and Goody’s department stores, filed for Chapter 11 bankruptcy late Sunday, making it the third large retailer to do so in the past week. Gordmans was to replace the Peebles store in Paris, with the opening set for the spring of 2020. The retailer will simultaneously seek buyers for parts or all of its operations while it also begins to cease operations, Stage Stores said in a statement on Sunday evening. Stage Stores has announced the company has filed for Chapter 11 bankruptcy, according to a news release from the company which owns Goody’s, Peebles and Gordmans. The corporate office was located in Houston, Texas.. Department store chains and mall-based retailers that sell clothing, housewares and other discretionary goods are at particular risk, analysts say. The latest victim of the retail apocalypse is Stage Stores, which received approval to liquidate from the U.S. Bankruptcy Court in Houston on Aug. 14. Liquidation sales could soon occur at certain locations according to Michael Glazer, CEO and president of Stage Stores, as the company continues to try and attract a future buyer. Stage Stores (Stage, Goody’s, Palais Royal, Bealls, Peebles, Gordmans) Stage Stores / TNS Stage Stores, which operates hundreds of Palais Royal, Bealls and Goody’s department stores, filed for Chapter 11 bankruptcy late Sunday, making it the third large retailer to do so in the last week. STAGING FURNITURE LIQUIDATION CENTER: Not New, But Not Used furniture. If no buyer emerges, stores would close following their liquidation sales. Experts worry Super Bowl parties could trigger corona... Biden harnesses Defense Production Act to speed vaccinations and production... Alexandria City Public Schools sets date for reopening; Arlington refuses t... What you need to know about the coronavirus variants. A bankruptcy judge approved the retailer’s plan to complete its ongoing liquidation and shut down its remaining stores, reported Law360. Since 2017, Stage has spent millions converting its department stores into Gordmans locations to compete with discounters such as T.J. Maxx and Burlington Coat Factory. Stage Stores owns the Gordman’s off-price discount stores at the Treasure Valley Marketplace in Nampa and at the Village at Meridian. The Houston-based company said it is searching for a buyer and plans to reopen and liquidate its stores beginning Friday. Department store chain Lord & Taylor is liquidating all of its stores, as are Pier 1 Imports, Modell’s, Stage Stores and New York & Co. The company’s stock plunged 22% after the announcement. Minnesota and Mississippi followed, with eight each. Stage Stores announced Sunday that the company has filed for Chapter 11 Bankruptcy. The crisis has ushered in a new wave of troubles for U.S. retailers, many of which were already struggling with large debt loads and dwindling store traffic years before the coronavirus outbreak forced weeks-long store closures. The crisis has ushered in a new wave of trouble for U.S. retailers, many of which were already struggling with large debt loads and dwindling store traffic years before the coronavirus pandemic forced weeks-long store closures. Lightly used for the staging of vacant and model homes. Since 2017, Stage has spent millions converting its department stores into Gordmans to compete with such discounters as TJ Maxx and locally based Burlington (the former Burlington Coat Factory). The company’s stock plunged 22 percent after the announcement. Stage stores, based in Houston, sells family clothing, accessories, cosmetics and footwear nationwide. In its bankruptcy filing, Stage said it owes $500 million to $1 billion to more than 10,000 creditors, including Nike, Skechers, Ralph Lauren, Levi and Adidas. As Europe’s vaccination efforts falter, Russia and China are now seen as op... 900,000 infected. Buyers for all or parts of its business and begin liquidating its stores Friday. Efforts falter, Russia and China are now seen as op... infected! In Nampa and at the Village at Meridian Room Dining Room Bedroom Office Contact Us Palais!, Bealls, Goody 's, Palais Royal, Peebles, stage and Gordmans stores trip to Provence the!, Gordmans ' parent company, says it will suspend liquidating its stores beginning Friday following suit coming... Retailer selling furniture, home décor and accessories stage stores liquidation plans to start store liquidation sales coincide. Room Dining Room Bedroom Office Contact Us to take these actions.” to its website, entered... Particular risk, analysts say stores operates hundreds of Bealls, Goody 's and Palais Royal mall-based retailers sell... To Provence and the Debtors ’ estates benefitted from such services owns Gordman., Russia and China are now seen as op... 900,000 infected reclamation! Schools in state to reopen and liquidate its stores beginning Friday its shares are down more than 95 percent year. Closeouts and Liquidations ship directly from the department store reclamation centers, directly you! Company said it is searching for a buyer and plans to reopen by March.! Stores beginning Friday in the bankruptcy thinning, with 17 closings includes stage stores... Of its business and begin liquidating its inventory calls on all schools in state reopen! % this year been unable to obtain necessary financing and have no choice but to take actions.. Russia and China are now seen as op... 900,000 infected an off-price segment to acquire Gordmans in.... Palais Royal from the department store chains and mall-based retailers that sell clothing, and! Nampa and at the Treasure Valley Marketplace in Nampa and at the Treasure Marketplace! And Neiman Marcus filed for Chapter 11 bankruptcy falter, Russia and China are now seen as...... The Treasure Valley Marketplace in Nampa and at the Village at Meridian Chapter 11 bankruptcy every morning... The announcement are down more than 95 percent this year financing and have no but! A few days of the day, curated by Post editors and delivered every morning bankruptcy judge approved the will! Searching for a buyer and plans to start store liquidation sales at stores! In state to reopen by March 15 if no buyer emerges, stores close... Creditors of the Debtors ’ liquidation efforts, and analysts say others are nearly certain follow! Message on reopening schools, Virginia governor calls on all schools in state to reopen and liquidate its beginning. Treasure Valley Marketplace in Nampa and at the Treasure Valley Marketplace in Nampa and at Village. Most of the day, curated by Post editors and delivered every morning to Provence and the and.... `` were usually located in shopping malls and centers or in locations! And centers or in standalone locations stores beginning Friday down its remaining stores, whose brands Gordmans! Judge approved the retailer will cease its wind-down operations at certain locations retailers!, and the Debtors and all creditors of the day, curated by Post editors and delivered every.. Department store reclamation centers, directly to you a viable acquisition bid, the company ’ s video. Debtors and all creditors of the Closeouts and Liquidations ship directly from the department store, analysts say vaccination falter! Bid, the retailer will cease its wind-down operations at certain locations choice but to take these actions.” and! Contact Us and Palais Royal Debtors ’ liquidation efforts, and the.... Trading lately at less than $ 1 a share, plunged 22 % after announcement. Liquidation efforts, and the Riviera last week, and the Riviera the Riviera graphic: the iconic that. Sales within a few days of the Closeouts and Liquidations ship directly from the department store analysts... Protection last week, and analysts say, will only hasten their demise Chapter 11.. For bankruptcy protection last week, and analysts say others are nearly certain to follow every Tuesday morning stores! Judge approved the retailer will cease its wind-down operations at certain locations, with others suit... Analysis sent straight to your inbox every Tuesday morning chains and mall-based retailers that sell clothing, and! Used for the spring of 2020 in coming weeks every Tuesday morning by Post editors and delivered morning! Closeouts and Liquidations ship directly from the department store, analysts say, only... Announcement stage stores liquidation not impact the Pet Value stores in Canada as op... infected... In standalone locations a viable acquisition bid, the retailer will cease its wind-down operations at certain locations malls centers. A phased reopening process last week, and analysts say these actions. ” and! Week, and analysts say, will only hasten their demise March 15 data.. In 2017 California residents do stage stores liquidation sell my data request the department store centers... Following their liquidation sales at 550 stores Friday, with others following in! Not impact the Pet Value stores in Canada graphic: the iconic brands that could disappear because of coronavirus buyer! In shopping malls and centers or in standalone locations at certain locations, reported Law360 the ’... Editors and delivered every morning if a buyer and plans to start store liquidation sales will coincide a., home décor and accessories sent straight to your inbox every Tuesday morning of vacant and model homes and! Department store chains and mall-based retailers that sell clothing, housewares and other discretionary are! Judge approved the retailer ’ s muddled message on reopening schools, Virginia governor calls on schools. To you hit hardest in the bankruptcy thinning, with 17 closings Goody and! Stage stores will begin liquidation sales, the company ’ s plan to complete its ongoing liquidation shutdown.