The pandemic ushered in a wave of major bankruptcies — 30 in total — as retailers struggled to pay rent, vendors and other expenses. The company was at risk of bankruptcy long before COVID-19 came along. Company profile page for Stage Stores Inc including stock price, company news, press releases, executives, board members, and contact information Stage Stores is a department store that specializes in offering brand name apparel, accessories, footwear, beauty, and housewares to consumers around the United States. Date to. SEATTLE--(BUSINESS WIRE)--Oct. 23, 2019-- Amazon (Nasdaq:AMZN) today announced the expansion of Counter, a network of staffed pickup points that gives customers the option to pick up their Amazon packages in-store … Landlords helped tip the company into bankruptcy, posting default notices and even locking the retailer out of its stores in some areas. The Company will simultaneously solicit bids for a going concern sale of the business or any of its assets and initiate an orderly wind-down of operations. Other News; Press Releases; No Headlines Available . The Company will terminate the wind-down of operations … Date from. It entered the off-price market by buying Gordmans out of bankruptcy in 2017. There followed, in the early months of 2020, bankruptcy rumors and a liquidity crisis as the retailer's lenders tightened its leash. In March, Stage Stores had to close its locations along with much of the retail world. By Reuters Staff. Twitter. 547 Stage Stores reviews. Stein Mart and Tuesday Morning — both, like Stage, smaller chains without the scale and buying power of the large off-pricers — filed for bankruptcy this year amid the COVID-19 disruption. News. All of its troubles to win financing and grow sales were. The Wall Street Journal followed with a report that the company was mulling a bankruptcy, which came as news to employees, sources told Retail Dive.Â, Although employees knew the company was struggling, layoffs and how they played out also took some by surprise. As recently as November, executives raised their financial estimates for the year and were projecting optimism about the transformation.Â, The retailer has reportedly been working with advisers and lawyers to restructure its debt. A report from Debtwire that Stage had hired Kirkland & Ellis, known in retail for its bankruptcy work, set off concerns among suppliers. Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. Arts, culture and sport Brexit Building, planning and design Business, industry and innovation Children and families Communities and third sector Constitution and democracy Coronavirus in Scotland Economy Education Energy … The downturn happened swiftly. The Houston-based operator of … Stage Stores will liquidate its inventory by reopening about 557 stores on Friday, about 67 stores on May 28, and the remaining locations on June 4. Stage Stores names CFO . Stage Stores reported a net loss of $15.9 million on revenue of $399 million during its most recent quarter ended Nov. 2. What does a government reckoning with Google and Facebook mean for retail? , following the conversion of many of its department stores to the off-price Gordmans banner. Twitter. , casting doubt on its conversion plans. That was to be done by the end of 2020, on a trim budget for a retailer that had suffered financially for years. Using Brand Purpose to Drive Awareness and ROI, Raising the B2B Bar: Bringing B2C Growth and Opportunity to B2B Ecommerce. Topics . Would the retailer have survived, though, in a market absent a pandemic? Show filters. Topics covered: retail tech, e-commerce, in-store operations, marketing, and more. Then the coronavirus found its way to the U.S. Reports circulated Wednesday afternoon that the troubled retailer had laid off anywhere between 20 … For the first quarter, comparable sales decreased 3.1 percent. on Stage Stores, Inc., reported last week results for the first quarter ended May 4, and reaffirmed guidance for fiscal year 2019. Stage Stores, Inc. today announced that it will release its first quarter fiscal 2018 financial results on Thursday, May 24, 2018. Ben Unglesbee The business had revenue of $369.29 million for the quarter. Quiet layoffs and store closures followed, while the company behind the scenes sought additional solutions for the capital to run its business, convert its stores and finish its transformation plan. 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