Gordmans – the regional chain of off-price department stores – filed for Chapter 11 bankruptcy protection last week.
The chain’s future appears unclear, at this time. Despite a message posted prominently on the retailer’s website stating it’s “business as usual,” several news outlets are reporting that full liquidation is likely, with a liquidation deal already in place “for the sale in liquidation of the inventory and other assets of Gordmans’ retail stores and distribution centers.”
The Nebraska-based retailer posted losses in five of the past six quarters.
Gordmans only recently entered the Bismarck landscape – anchoring Phase I of Hay Creek Shops in 2015. The chain operates more than 100 stores, including four in North Dakota.
UPDATE (4/03/2017): KFYR-TV reports that only 48 of the chain’s 105 stores will shutter, with 50 likely to remain open. Court records apparently indicate that all four of the chain’s North Dakota stores will remain open. The actual list of closures is to be released Friday, April 7.