Stage Stores under Chapter 11 Bankruptcy

On Sunday, Stage Stores,Inc. parent company of Palais Royal, filed for bankruptcy protection. A Stage Stores spokesperson are seeking a buyer for the company and, at the same time, will begin liquidation. Last year we reported the Palais Royal store here in Liberty was going to become a Gordmans store. That’s an off-price retail store who said they are similar to TJ Max, Marshals, and Ross stores. With this bankruptcy filing, that conversion apparently will not happen. Many of the stores including the Palais Royale in Liberty have been closed.  In a press release, the company says it will begin reopening stores on May 15th and anticipates all stores being reopened by June 4th. No date has been announced for the reopening of the Liberty Palais Royal store. Stage Stores officials say they will accept gift cards and returns for 30 days after a store reopens. After that 30-day period, they will no longer honor gift cards or other customer programs, including returns. Stage Stores closed all of their 738 stores in late March due to the COVID-19 Pandemic. The company spokesperson says, because of the temporary closures, they were not able to get the financing needed to continue operations.

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