Continuously serving Kosciusko County since 1854
Stage Stores announced Friday it will close an additional 121 stores - including its Warsaw store - as part of an ongoing restructuring program.
Wendy Hicks, Warsaw Stage store manager, said she employs approximately 20 to 25 associates.
"We were just notified last Saturday" of the decision to close the store, she said.
Stage filed a motion with the U.S. Bankruptcy Court for the Southern District of Texas to close the stores. Stage's headquarters are in Texas.
Through its wholly owned subsidiary, Specialty Retailers, the company operates stores under its Stage, Bealls and Palais Royal trade names.
The Ozer Group, of Needham, Mass., and Hilco Merchant Resources, of Northbrook, Ill., have been retained by Stage to manage the liquidation process in stores it has targeted for closure.
All action is subject to bankruptcy court approval.
In preparation for that approval, Ozer and Hilco over the next 14 days will begin taking steep discounts on all of the merchandise in these stores as they take charge of marketing the stores.
Plans call for 13 of the 121 stores to be closed immediately, with store closing liquidations conducted at the other 108 stores.
Warsaw is one of the 108 stores where merchandise will be liquidated.
Stage Store merchandise includes nationally recognized brands such as Levi Strauss, Liz Claiborne, Chaps/Ralph Lauren, Calvin Klein, Guess, Hanes, Nike, Reebok and Haggar.
"The liquidators are not in our store yet," Hicks said. She also said she has not been told when they might arrive.
A store closing date has not been announced.
The stores scheduled for closure are in Arkansas, Colorado, Iowa, Illinois, Indiana, Kansas, Louisiana, Michigan, Missouri, Montana, Nebraska, New Mexico, Ohio, Oklahoma, Texas and Wyoming.
