Gordman’s stores to close in Blackfoot and Burley

HOUSTON, Texas (KIFI/KIDK)-The Gordman's variety store in Blackfoot will close this summer, the result of a bankruptcy filing by its parent company Tuesday. Stage Stores, Inc. filed Chapter 11 bankruptcy protection in a Houston, Texas courtroom.   According to the company, it will simultaneously solicit bids for a going concern sale of the business while initiating an orderly wind down of operations.

Blackfoot and Burley stores are among 557 stores that will open May 15 for liquidation of their inventory. It intends to fully close all stores by August 30.

In a statement, company President and Chief Executive Officer Michael Glazer said, "This is a very difficult announcement and it was a decision that we reached only after exhausting every possible alternative. 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.”

Glazer went on to thank company employees, vendors, and customers as the company worked to avoid the bankruptcy action.  

The company is filing customary motions to support its operations, including payment of employee wages and health benefits.

It intends to honor existing customer programs, including gift cards and returns for the first 30 days after the stores reopen.