OMAHA, Neb. (AP) — Another department store operator has won the chance to buy about half of Gordmans more than 100 stores out of bankruptcy.
Stage Stores Inc. said Thursday that it was the winning bidder for Gordmans’ assets, and it plans to buy and run at least 50 stores and one of Gordmans’ distribution centers. No word if it includes the Wichita locations.
The rest of Omaha, Nebraska-based Gordmans’ assets will be liquidated by Tiger Capital Group and Great American Group.
Houston-based Stage Stores already operates roughly 800 stores under several brands.
Stage CEO Michael Glazer says he thinks the Gordmans stores it is buying can thrive once they are free of significant debt and unprofitable locations.
Private equity firm Sun Capital Partners bought Gordmans in 2008 and still owned about half of the company that employed more than 5,000 people.