Newspaper article St Louis Post-Dispatch (MO)

Gordmans Stores Files for Bankruptcy with Plan to Liquidate

Newspaper article St Louis Post-Dispatch (MO)

Gordmans Stores Files for Bankruptcy with Plan to Liquidate

Article excerpt

OMAHA, Neb. * Department store operator Gordmans said Monday that it has filed for bankruptcy protection and plans to liquidate the inventory of its 106 discount stores, including six in the St. Louis area.

The Omaha, Neb.-based company, which filed for Chapter 11 bankruptcy protection, had worked to reduce its expenses over the past several months. The company laid off an undisclosed number of workers at its headquarters in January because of what it called the "sluggish retail environment."

Gordmans posted losses in five of its last six quarters. In its most recent quarter, it reported a 9.4 percent drop in same-store sales last year.

Chief Financial Officer James B. Brown said in documents filed in court that the company's sales declined because retail traffic slowed and less than 1 percent of Gordmans sales were made online in the past year. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.