Stage Stores Inc (USA), which operates 700 department stores and discount stores under the Peebles, Goody’s, and Goodman’s names, has filed for Chapter 11 bankruptcy protection.
Like many other retailers, the company was weighed down by debt. The shuttering of retail in March and April choked off its cash flow and push it into distress.
Stage will open about 557 of its stores on May 15 and begin to liquidate its inventory.
At the same time, the company is looking for a buyer.
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