Retailer Gordmans files bankruptcy, plans to liquidate its stores

Gordmans files bankruptcy plans to sell stores

One of two Topeka Radio Shack stores closed Sunday even as Gordmans department store filed bankruptcy Monday morning.

Goldsman, a discount store chain, declared Chapter 11 bankruptcy Monday and announced plans to liquidate its assets.

Liquidation usually leads to store closings but the president and CEO of Gordmans says all stores will operate as usual until further notice.

Gordmans also announced an arrangement for the sale and liquidation of the inventory and other assets of Gordmans' retail stores and distribution centers with Tiger Capital Group, LLC and Great American Group, LLC.

Gordmans has four locations in OH, though none of them are in Columbus.

Gordmans has a store at East Towne Mall in Madison.

Founded in 1915 and based in Omaha, Nebraska, Gordmans sells apparel and footwear for men, women and children, as well as accessories, home décor, gifts, designer fragrances, fashion jewelry, bedding and bath, accent furniture and toys.

In 1975 the company opened another chain of stores called Half Price Stores, which it operated in conjunction with its Richman Gordman stores.

Private equity firm Sun Capital bought the company in 2008 and took it public in 2010. They have not given a time frame for when they will close.

Gordmans had posted losses in five of its last six quarters.

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