Why Is Stage Stores Closing?

Why is stage closing?

As Retail Dive reported previously, Stage Stores began quietly laying off employees and closing stores in February as it worked through a liquidity crisis and negotiations with potential lenders and investors.

All of these challenges have proven insurmountable to Stage Stores on its own..

Is gordmans going out of business 2020?

As of Monday, June 15, 2020 all Stage and Gordmans stores that were temporarily closed due to COVID-19 are NOW OPEN! Our Store Operations team continues to implement best methods to ensure our stores offer an easy-in, easy-out store experience that’s clean and comfortable.

Why is Bealls closing?

In March, Stage announced it was closing all of its 15 Bealls outlets in the Valley with the exception of the Port Isabel location. … Like all departments stores, the Stage brands have been shut down across the country due to coronavirus, and it anticipates reopening its 700 stores in phases beginning Friday.

Will Stage Stores find a buyer?

Stage Stores filed for Chapter 11 with a forked plan: it will liquidate while also trying to sell itself. If a buyer emerges, the retailer will be saved.

Does Stage Stores have a buyer?

Stage Stores is providing financial details to potential bidders including eight who say they will keep open 200 to 500 locations operated by the retail chain.

What stores are shutting down 2020?

Retailers have confirmed at least 6,000 US store closings for 2020. Men’s Wearhouse, PVH Corp, Microsoft, GNC, JCPenney, Victoria’s Secret, Nordstrom, and Sears are among the retailers that are planning to close stores this year.

Who owns Bealls Florida?

Bealls Outlet is a privately held company, rich in tradition, owned by the founding family and its employees. Beall’s, Inc. is the parent company of Bealls Outlet Stores, Inc. The corporation operates over 500 retail stores.

Is Bealls in Florida going out of business?

Iconic Florida retailer Bealls has announced that it will temporarily close its stores. “Out of an abundance of caution we have decided to temporarily close all of our stores,” CEO Matt Beall said in a statement.

What is Bealls turning into?

Stage Stores Inc., its Houston-based parent company, is moving forward on its plans to convert Bealls department stores in Texas to Gordmans “off-price” stores. … The purchase also included the Gordmans name along with all of the intellectual property.

Is Goody’s closing stores?

In 2019, Stage Stores — which also operates the Bealls, Goody’s, Peebles and Palais Royal banners — converted 89 stores to its off-price Gordmans brand. … Plans called for the company to close 40 stores and convert the rest to Gordmans, which Stage acquired out of bankruptcy in 2017.

Is stage stores going out of business?

Retail stores have been suffering, and Stage Stores has filed Chapter 11, closing all its stores. … Stage operated stores under various names, including Goody’s, Bealls, and Palais Royal. However, you would not find these stores in major metro markets across the country.

Who bought out Bealls?

Rumors around town about the fate of the Bealls department stores are circulating. The Athens Review reached out to its parent company Stage Stores and determined the Athens store is not closing but changing over to Gordmans in 2020.

Is Bealls closing in Texas?

The Stage Store Inc. … Stage Stores Inc., its Houston-based parent company, is moving forward on its plans to convert Bealls department stores in Texas to Gordmans’ off-price stores. The switch will take place in 2020. The store will close for about 2 weeks while the conversion takes place.

Does Stage Stores own Bealls?

Stage Stores, Inc. Specialty Retailers, Inc. … Historically, Stage Stores operated full-price retail outlets under the Bealls, Palais Royal, Peebles, Stage, and Goody’s nameplates before transitioning away from that business model and toward an off-price positioning in 2019 and 2020.

How is Bealls pronounced?

It’s more complicated than that and gets tied up in moving Gaelic names to English, but that’s the gist. Usually to get the pronunciation “beel” requires an “e” at the end, as in Beale Street in Memphis. Pronunciation: Beall is and always has been pronounced “bell” as in ringing.