Gordmans Iowa stores to stay open

All of Gordmans Iowa stores are slated to remain open, but under new hands, even as the Omaha, Neb.-based retailer has sought bankruptcy protection.

Texas-based Stage Stores announced last week it will acquire at least 50 Gordmans stores through the retailer's bankruptcy auction. Those stores include Gordmans stores in Cedar Rapids and Coralville, as well as seven others throughout the state, according to court documents filed Friday.

Stage Stores also is able to assume the leases for another seven stores and the Gordmans brand. The inventory at Gordmans other 48 stores will be liquidated by Tiger Capital Group and Great American Group.

Gordmans announced last month it would file for Chapter 11 bankruptcy protection. At the time, its leadership said all stores would continue operating as usual.

While Iowa's stores are to remain open, locations in Nebraska, Missouri, Illinois and Kansas are scheduled to close, according to the court documents.

In a statement Friday, Stage Stores said it expects the deal to close in the first quarter of its 2017 fiscal year.

'We are pleased to enhance our store portfolio with the most desirable Gordmans locations, giving Stage a strong Midwestern presence in markets generally larger than those we serve today,” Stage Stores CEO Michael Glazer said in the statement.