Stage Stores, which owns Bealls and Gordmans department stores, filed for bankruptcy last week. Stage Stores plans to reopen the stores and begin liquidation sales as they search for a buyer.
Stage Stores owns 738 stores across multiple brands including Bealls, Gordmans, Palais Royal, and Goody’s.
Stage Stores began liquidation sales at 550 stores Friday, with others following suit in coming weeks, according to the Washington Post.
“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. “Given these conditions, we have been unable to obtain necessary financing and have no choice but to take these actions.”
A store closing sale is going on now at the Sulphur Springs location at 10-40% off.