Another Retailer in Tyler Preparing to Close Its Doors
Another week has gone by and another major retailer has declared bankruptcy as it prepares to liquidate all of its assets. Bloomberg News reported early Monday morning that Gordmans Stores Inc. plans to close all of their stores in preparation for bankruptcy.
Gordmans, a popular retail chain, currently operates 106 stores throughout 22 states, including one in Tyler. As of now there is no official date of closure for the 100+ stores and they will continue to operate for the time being.
CEO Andy Hall said in a statement that the chain will operate "as usual without interruption."
In a report from the Chicago Tribune, Chief Financial Officer of Gordmans, James B. Brown said:
Like many other apparel and retail companies, the debtors have fallen victim in recent months to adverse macro-economic trends, especially a general shift away from brick-and-mortar to online retail channels, a shift in consumer demographics, and expensive leases.
Gordmans located in Tyler can be found at 8950 S Broadway Avenue, Tyler, Texas.