HOUSTON, Texas (KETK) Another major retailer has filed for bankruptcy.
Stage Stores, headquartered in Houston, filed for Chapter 11 on Sunday, May 10.
The company owns Goody’s, Peebles, Gordmans, and Bealls.
Select stores were set to open Friday, May 15 amid the coronavirus pandemic.
“Over the last several months, we had been taking significant steps to attempt to strengthen our financial position and find an independent path forward. 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.”
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