Department store chain Gordmans files for bankruptcy, plans to liquidate

Source Gordman's website

Discount store Gordmans announced on Monday it is filing for bankruptcy and liquidating all of its stores. The Company, which is engaged in the retail sale of apparel, home goods and other merchandise, is represented by Jeffrey T. Wegner of Kutak Rock.

CEO Andy Hall says the chain will operate "as usual without interruption".

The company released a news release saying it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Nebraska.

Omaha, Neb. -based Gordmans had posted losses in five of its last six quarters. In the following years, the company increased sales by 30%, according to Gordmans.

One of two Topeka Radio Shack stores closed Sunday even as Gordmans department store filed bankruptcy Monday morning.




The company estimated its debts total between $100 million and $500 million. Gordmans has a store in Normal at the Shoppes at College Hills.

Gordmans was bought in 2008 by private equity firm Sun Capital Partners.

Gordmans employs about 1,600 people companywide.

The company hasn't listed a time frame yet for when it plans to close its stores and liquidate their inventory.

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