Stage Stores, operator of six department banners representing 738 doors across 42 states, filed for Chap. 11 on May 10, becoming the third U.S. retailer after J. Crew and Neiman Marcus to file for bankruptcy protection this month. Stage, which operates banners including Bealls and Goody’s, will begin liquidation sales at 550 locations on Friday followed by remaining stores at a later date.
Meanwhile, the publicly-traded retailer, which competed with discounters T.J. Maxx and Burlington Coat Factory and reported a 17 percent increase in comparable stores sales during its most recent quarter, owes eight footwear brands nearly $11.66 million. According to court documents, the eight are led by Nike ($3.60 million), Skechers ($2.31 million) and Adidas ($1.88 million), followed by Columbia Sportswear ($1.15 million), FILA USA ($941,932), Rocket Fish Inc. ($699,050), New Balance ($581,180) and Caleres ($486,944).