Report: Gordmans to liquidate under bankruptcy

Report: Gordmans to liquidate under bankruptcy
Photo from agathabrown on Morguefile

A discount department store chain with a location at East Towne Mall is declaring bankruptcy with plans to liquidate, according to a financial news outlet.

Bloomberg reported Monday that Gordmans filed for bankruptcy after posting losses in the five of the six past quarters.

For now, the chain will operate “as usual without interruption,” Chief Executive Officer Andy Hall said in the statement.

Gordmans has a store at East Towne Mall in Madison.

Gordmans started in 1915 as a small retail store in Omaha, Nebraska, and now has 106 stores in 22 states.