Plans to transition the Stage retail store that was formerly housed at the Mellor Park Mall into a Gordmans “off-price” fashion store are off after the parent company, Stage Stores, Inc., was purchased as part of a bankruptcy sale.
Jaren Books, membership and events coordinator for the El Dorado-Union County Chamber of Commerce, confirmed Tuesday that the Chamber had been notified of the change in plans.
“Yes, a representative from Stage Stores informed us last year that they would no longer be renovating the current store and transitioning it into a Gordmans,” Books said.
In January, 2020 the News-Times reported that the Stage department store at the Mellor Park Mall was closing and liquidating its merchandise.
“We are excited about our future as we fully transition to an off-price business model,” Stage Stores CEO Michael Glazer said in a January 2020 press release regarding Stage buying Gordman’s ‘off-price’ stores and transitioning into a retail model similar to that of T.J Maxx, Marshall’s and Ross.
“Off-price” refers to a specific business model where a retail business will sell well-known or named brands at reduced prices; merchandise is typically purchased directly from the brand owner, distributor or manufacturer.
Stage Stores, Inc. subsequently filed for Chapter 11 bankruptcy in May 2020. The company operated 738 conventional department stores and off-price stores under multiple brands at the time it filed, according to A&G Real Estate Partners.
In Oct. 2020, Bealls, Inc. acquired Stage Stores, Inc.’s 435,196-square-foot distribution center in Jacksonville, Texas which sits on a 42.51-acre parcel that includes undeveloped land for expansion for $7 million, according to a press release by A&G Real Estate Partners.
The acquisition also included the facility’s machinery and equipment, and the company’s intellectual property.
The intellectual property acquired by Bealls includes the trademarks and trade names for Stage Stores, Goody’s, Gordmans, Palais Royal, and Peebles – as well as the national rights for the Bealls name.
“We are very excited about this transaction for many reasons. The distribution center will allow us to gain additional merchandise processing capacity to support our expansion efforts. This is our first owned logistics facility located outside of the state of Florida. With our Burke’s Outlet chain expanding throughout the U.S., it is important that we shore up our foundation to support this growth. We are also excited to now own the national rights to the Bealls name,” Matt Beall, CEO and executive chairman for Bealls, Inc., said in an Oct. 2020 press release.
Bealls. Inc. is headquartered in Bradenton, Fla. Bealls is a privately held company founded in 1915. Bealls has grown to over 525 stores across 17 states and operates online sellers like beallsflorida.com, burkesoutlet.com, homecentric.com and bunulu.com, according to the company’s website.