Stage Store has filed for chapter 11 bankruptcy. The retail currently has over 700 stores in 42 different states.
The company has reported that they will start liquidating inventory at select stores on May 15, 2020. Stage Store is actively looking for someone to buy the company. The retailer currently owes over $500 million to creditors.
According to the Bankruptcy filing, Stage Store has a little over $1.7 billion in assets.