Gordmans to File for Chapter 11

Discount department store chain Gordmans (Omaha, Neb.) announced it will file for bankruptcy.

The retailer has $131 million in debt, reports Bloomberg, and has an agreement with Tiger Capital Group (New York) and Great American Group (Los Angeles) to liquidate inventory and other assets.

“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,” CFO James Brown said.

Gordmans operates more than 100 stores in 22 states and has 5100 employees.