Gordmans Department Store Filed For Bankruptcy

The retailer posted losses in 5 of the past 6 quarters and listed a total debt of $131 million in Chapter 11 papers filed in federal court on Monday.

According to news-herald.com, “Gordmans announced that it has entered into an agreement with Tiger Capital Group and Great American Group for the sale in liquidation of the inventory and other assets of retail stores and distribution centers, subject to court approval of a more favorable transaction.”

Until further notice, all stores (Bainbridge Twp, Mentor, and Parma) will operate as usual without interruption.

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