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Department store chain Gordmans files for bankruptcy | KTIC Radio

Department store chain Gordmans files for bankruptcy

Department store chain Gordmans files for bankruptcy
Courtesy/AP. A Gordmans store is seen in Omaha, Neb., Thursday, Aug. 5, 2010. Gordmans Stores Inc. operates 67 department stores in shopping centers throughout the Midwest. The company sells clothing, accessories, footwear and home decor. Shares of discount retailer Gordmans Stores are rising in their market debut Thursday. (AP Photo/Nati Harnik)

Department store operator Gordmans is filing for bankruptcy protection and plans to liquidate the inventory of its 106 discount stores.

The Omaha-based company announced Monday it had filed for Chapter 11 bankruptcy protection. Gordmans had posted losses in five of its last six quarters. It’s stock price fell to 6 cents a share Monday after the announcement.
Gordmans did not give a time frame for the liquidation sale. It employs about 5,000 people at its stores in 22 states.

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