Mentor is among the Northeast Ohio communities potentially affected by Gordmans Stores Inc.'s liquidation plans, following its bankruptcy filing March 13.
Gordmans filed for Chapter 11 bankruptcy, and entered into an agreement with two auction, liquidation and asset management companies to liquidate their inventory and other assets.
In a statement, Gordmans president and CEO said until further notice all stores will operate as usual. "These trends have directly affected the Debtors' sales and operations".
Gordmans was purchased by private equity firm Sun Capital Partners in 2008. It employs about 5,000 people at its stores in 22 states.
Gordmans Stores is the latest chain to file for bankruptcy. The impact has been both felt with national chains, like Macy', as well as regional department and retail stores. He later teamed up with a former Bloomingdale's executive, Dan Gordman, whose auto broke down in Omaha en route to California. And in its most-recent quarter, it reported a 9.4 percent drop in same-store sales a year ago. The company announced job cuts in January, citing the "sluggish retail environment".
The company began operations with a single store in Omaha in 1915.