Gordmans declares bankruptcy, will liquidate and close all stores
AVON, Ind. – The apparel and home décor discount store chain Gordmans announced on Monday that it has filed for bankruptcy, and they are liquidating all stores.
The retailer has seven locations in Indiana including one in Avon, Lafayette, Evansville, Mishawaka, Valparaiso, Schererville, Clarksville and Fort Wayne.
The company hasn’t listed a time frame yet for when it plans to close its stores and liquidate their inventory.
“Until further notice, all Gordmans stores are operating as usual without interruption,” said Andy Hall, president and chief executive officer of Gordmans. “The management team and all of our associates remain committed to continuing to provide great merchandise and service to our guests during this process.”
Private equity firm Sun Capital Partners bought the business in 2008 and took it public two years later. Growth slowed in 2014, and losses began to mount. Same-store sales fell more than 9 percent in the most recently reported quarter. The company announced job cuts in January, citing the “sluggish retail environment.”