Boston, MA, July 16, 2020 (GLOBE NEWSWIRE) -- Joint venture partners Gordon Brothers and Hilco Merchant Resources announced that they have commenced “Going-Out-of-Business” sales at 720 Stage Stores, Inc. locations including Gordmans and all associated brand stores across the United States. The Company filed for Chapter 11 bankruptcy protection in May in order to explore recapitalization options as part of a larger restructuring strategy.  The challenging preexisting market conditions were exacerbated by the COVID-19 pandemic and prevented the retailer from obtaining the required financing to continue operating stores outside of bankruptcy.  While the Company continues to follow a dual path, going-out-of-business sales have now commenced across all Gordmans and Stage stores as well as Bealls, Goody’s, Palais Royal and Peebles stores.

Beginning today, customers can take advantage of storewide discounts of up to 60 percent off original ticketed prices.  This includes all new merchandise arrivals in Home, Missy, Women’s, Maternity, Men’s, Kid’s, Footwear and much, much more.

A spokesperson from Gordon Brothers and Hilco Merchant Resources stated, “Customers can shop confidently, as stores have implemented protocols to ensure a safe “easy in, easy out” shopping environment.  We encourage customers to take advantage of significant discounts and shop early for the best selection.  Store teams remain committed to providing customers with the same great experience, while offering even better deals and value.”

Additional Information

Government-mandated health and safety guidelines have been implemented.

Visit https://www.gordmans.com/allopenstores for complete store closing list.  Store furniture and fixtures will also be available for sale.

 

About Gordon Brothers:

Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors, and investors move forward through change. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations, and investments. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Gordon Brothers is headquartered in Boston, with 25 offices across five continents.


About Hilco Merchant Resources, LLC:
 

Hilco Merchant Resources (www.hilcomerchantresources.com) provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer’s strategic initiatives.  Hilco Merchant Resources’ activities fall into several principal categories including acquisitions; disposition of underperforming stores; retail company or division wind downs; event sales to convert unwanted assets into working capital; facilitation of mergers and acquisitions; interim company, division or store management teams; loss prevention; and, the monetization of furniture, fixtures and equipment.  Additionally, HMR now includes among its subsidiaries the nation’s premier fixture and equipment liquidation firm, Hilco Fixed Asset Recovery (www.hilcoffe.com) and an innovative sale locater website called ShopGenius (www.shopgenius.com). Hilco Merchant Resources is part of Northbrook, Illinois based Hilco Global (www.hilcoglobal.com), one of the world’s leading authorities on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace.

Nicole Trice
Gordon Brothers
617-422-6569
ntrice@gordonbrothers.com