|Gordmans declares bankruptcy
News Staff - March 13, 2017
OMAHA, Neb. - Department store operator Gordmans is filing for bankruptcy protection and plans to liquidate the inventory of its 106 discount stores.
The Omaha, Nebraska-based company announced Monday it had filed for Chapter 11 bankruptcy protection.
Gordmans had posted losses in five of its last six quarters. It's stock price fell to 6 cents a share Monday after the announcement.
In a statement, Gordmans president and CEO Andy Hall said, "Until further notice, all Gordmans stores are operating as usual without interruption."
Gordmans did not give a time frame for the liquidation sale. It employs about 5,000 people at its stores in 22 states, including one in Rapid City.