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The Springfield Gordmans store reopened Friday after the coronavirus pandemic forced its closure, but it may be a temporary move.
Stage Stores Inc. (NYSE: SSI), Gordmans' Houston, Texas-based parent company, filed for Chapter 11 bankruptcy this month ahead of the local store's reopening. Liquidation sales are now in the works for more than 600 stores owned by Stage, including the Springfield Gordmans, and closures will follow if a corporate buyout cannot be secured, according to a news release.
"Over the last several months, we had been taking significant steps to attempt to strengthen our financial position and find an independent path forward," Stage President and CEO Michael Glazer said in the May 10 release. "However, 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.
"Given these conditions, we have been unable to obtain necessary financing and have no choice but to take these actions.”
The Springfield Gordmans store previously survived a 2017 bankruptcy filing. The local store moved to 1425 E. Battlefield Road, the former home of Toys R Us, in spring 2019 after previously operating at 3303 S. Campbell Ave., according to past Springfield Business Journal reporting.
Gordmans operates on a lease at the current store property owned by Morris Corners LLC, according to Greene County assessor records.
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