Quick Answer: Who Bought Out Stage Stores?

Did Bealls get bought out?

Stage Stores was formed in 1988 when managers of Palais Royal and several venture capital firms acquired Bealls and Palais Royal, which date from the 1920s.

It bought Peebles Inc.

in 2003, and added the Goody’s name in 2009 from Goody’s Family Clothing Inc.

through a bankruptcy auction..

Is gordmans going out of business 2020?

As of Monday, June 15, 2020 all Stage and Gordmans stores that were temporarily closed due to COVID-19 are NOW OPEN! Our Store Operations team continues to implement best methods to ensure our stores offer an easy-in, easy-out store experience that’s clean and comfortable.

Why is Stage Stores closing?

“The increasingly challenging market environment was exacerbated by the covid-19 pandemic, which required us to temporarily close all of our stores and furlough the vast majority of our associates,” Michael Glazer, the company’s chief executive, said in a statement.

Who bought out Bealls?

Rumors around town about the fate of the Bealls department stores are circulating. The Athens Review reached out to its parent company Stage Stores and determined the Athens store is not closing but changing over to Gordmans in 2020.

What is Bealls turning into?

A new apparel and home decor retailer, Gordmans, is open in Burkburnett. … Stage Stores Inc., its Houston-based parent company, is moving forward on its plans to convert Bealls department stores in Texas to Gordmans “off-price” stores.

Who owns Bealls Florida?

Bealls Outlet is a privately held company, rich in tradition, owned by the founding family and its employees. Beall’s, Inc. is the parent company of Bealls Outlet Stores, Inc. The corporation operates over 500 retail stores.

How is Bealls pronounced?

It’s more complicated than that and gets tied up in moving Gaelic names to English, but that’s the gist. Usually to get the pronunciation “beel” requires an “e” at the end, as in Beale Street in Memphis. Pronunciation: Beall is and always has been pronounced “bell” as in ringing.

Did Stage Stores Buy gordmans?

Stage Stores acquired the Gordmans’ assets in March 2017 after becoming the winning bidder in a bankruptcy sale. The company announced that it planned to run at least 50 stores and one of Gordmans’ distribution centers.

Who bought out stage?

Axar Capital Management LP owns 14.87 percent of the company’s equity, and Glazer owns 6.41 percent. Stage Stores plans to seek approval for a cash collateral to ensure it has the cash flow to support operations in Chapter 11.

Why is Bealls closing?

In March, Stage announced it was closing all of its 15 Bealls outlets in the Valley with the exception of the Port Isabel location. … Like all departments stores, the Stage brands have been shut down across the country due to coronavirus, and it anticipates reopening its 700 stores in phases beginning Friday.

Does Stage Stores have a buyer?

Stage Stores is providing financial details to potential bidders including eight who say they will keep open 200 to 500 locations operated by the retail chain.

Is Bealls in Florida going out of business?

Iconic Florida retailer Bealls has announced that it will temporarily close its stores. “Out of an abundance of caution we have decided to temporarily close all of our stores,” CEO Matt Beall said in a statement.

Are Goody’s stores closing?

In 2019, Stage Stores — which also operates the Bealls, Goody’s, Peebles and Palais Royal banners — converted 89 stores to its off-price Gordmans brand. … Plans called for the company to close 40 stores and convert the rest to Gordmans, which Stage acquired out of bankruptcy in 2017.

Are stage stores going out of business?

Retail stores have been suffering, and Stage Stores has filed Chapter 11, closing all its stores. … Stage operated stores under various names, including Goody’s, Bealls, and Palais Royal. However, you would not find these stores in major metro markets across the country.

Will Stage Stores find a buyer?

Stage Stores filed for Chapter 11 with a forked plan: it will liquidate while also trying to sell itself. If a buyer emerges, the retailer will be saved.

Are all Peebles stores closing?

On May 10, 2020, Stage announced it had filed for Chapter 11 bankruptcy, and that it would liquidate all locations, Peebles and Gordmans included, unless a buyer could be found for the chain. No buyer had been found, and going out of business sales had begun at all locations.

Who bought out Palais Royal?

In 1994, the company was purchased by Stage Stores, formerly known as Specialty Retailers Inc., the current owner of the stores. In 2019, it was announced that parent company Stage Stores Inc planned to convert all Palais Royal stores to the Gordmans banner, along with Stage Stores’ other chains.