Department store chain Gordmans files for bankruptcy

OMAHA, Neb. (AP) – Department store operator Gordmans is filing for bankruptcy protection and plans to liquidate the inventory of its 106 discount stores.

The Omaha, Nebraska-based company announced Monday it had filed for Chapter 11 bankruptcy protection.

Gordmans had posted losses in five of its last six quarters. It's stock price fell to 6 cents a share Monday after the announcement.

Gordmans did not give a time frame for the liquidation sale. It employs about 5,000 people at its stores in 22 states, including one in Rapid City.