[19], "Stage Stores Inc. US off-price department store operator Stage Stores is to wind down its business after failing to find a buyer. The corporate office was located in Houston, Texas. The remainder were small specialty stores known as Stage Stores, which had already become part of SRI's operation. Its earlier plans to explore recapitalisation options as part of a larger restructuring strategy were also stymied by the Covid-19 pandemic, which required it to temporarily close all of its stores and furlough the vast majority of workers. By the end of fiscal year 2020, Stage planned to operate approximately 700 Gordmans Stores. Through a series of acquisitions the company grew to 793 stores as of July 29, 2017. P.S: If you liked this article, you might enjoy the just-style newsletter. View Martha Lenz's business profile as Associate Buyer at Stage Stores. As part of expanding the brand, Stage Stores opening their first new Gordmans store in Rosenberg, Texas in March, 2018. [16]. [12] Under the direction of Stage Stores, Gordmans began to transition away from the specialty department store business model, moving the brand to the off-price retail sector, more resembling stores like T.J. Maxx, Ross, and Burlington. Stage operated stores under various names, including Goody’s, Bealls, and Palais Royal. The nameplate was used in markets with a strong customer awareness and brand recognition of the name. Get our weekly best-of roundup, Apparel and textile Research Updates: [14] In September, 2019, Stage Stores announced that they planned to completely exit the department store market, moving completely to the off-price model, converting all other stores brands to the Gordmans brand, and operating approximately 700 Gordmans stores by the third quarter of fiscal 2020 (August-October). Find new apparel sourcing destinations, assess trade flows and manage tariffs. Stage Stores began as the merger of two retail chains, Bealls and Palais Royal. Houston-based Stage Stores Inc. (NYSE: SSI), which owns several department store brands, has filed for Chapter 11 bankruptcy protection and is looking to sell its business. [13], In March, 2019, Stage announced that by mid-2020 they planned to convert at least 220 of their current department stores, including those of other brand names, into Gordmans off-price stores. Receive our latest content delivered right to your inbox. 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