Gordman's Business News
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Gordman's Business News
I have to admit... I always thought that Gordman's (Richman Gordman for some folks) would slowly disappear with the proliferation of chain big boxes. But to their credit... they're not only maintaining what they have... but apparently pushing out their territory.
World Herald Story: http://www.omaha.com/index.php?u_np=0&u ... id=1046038
This quote:
"Both stores, which open their doors today, feature a children's theater and a sports-themed seating area."
Made me think back to the dinosaur play area in the basement of the old 120th and West Center store (now their headquarters)... anyone old enough to remember THAT?? West Center was mostly corn field at that time (you know... back when you had to walk to school in the snow up hill... both ways!).
World Herald Story: http://www.omaha.com/index.php?u_np=0&u ... id=1046038
This quote:
"Both stores, which open their doors today, feature a children's theater and a sports-themed seating area."
Made me think back to the dinosaur play area in the basement of the old 120th and West Center store (now their headquarters)... anyone old enough to remember THAT?? West Center was mostly corn field at that time (you know... back when you had to walk to school in the snow up hill... both ways!).
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Gordman's Business News
Yep, I remember the play area in the basement of RG's at 120th & Center.
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Actually, I even remember the Dinosaur play area in the RG in La Vista. You guys aren't THAT old .
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I certainly remember the dinosaur play area. It was simply to die for. However, I remember this from the old Richman Gordman store at 73rd and Blondo. This may have been the only RG in Omaha at the time? It was before the 120th and Center location. And the Blondo was nothing like the 120th store or any to come afterward.
My most memorable moment on the dinosaurs was when a bully tried to kick me out of the play area. He went to hit me in the mouth and I grinned as wide as I could.... and he tore up his knuckles on my braces. He quit bothering me so he could attend to his hand. Braces sometimes came in handy.
My most memorable moment on the dinosaurs was when a bully tried to kick me out of the play area. He went to hit me in the mouth and I grinned as wide as I could.... and he tore up his knuckles on my braces. He quit bothering me so he could attend to his hand. Braces sometimes came in handy.
Gordman's Business News
After a few decades of not being much more than a local fixture, and a sometimes lackluster one at that ... Gordmans is really starting to take off.
Gordmans, an Omaha-based apparel and home decor retailer, opens a new store in Kansas City, Mo., today.
The store - originally in Shawnee, Kan. - was relocated seven miles south to 13617 Washington St., near 135th Street and State Line Road.
A grand opening celebration for the new 60,000-square-foot store begins April 1.
The store features a children's theater and sports-themed seating area and will employ about 100 full- and part-time employees. Gordmans operates five stores in the Kansas City metro area. The Stateline Station location is one of nine stores that will open this year.
Gordmans currently operates 48 stores throughout the Midwest, including eight in Nebraska and seven in Iowa. By the end of the year, the company will operate 55 stores in 12 states.
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Omaha World Herald wrote: Gordmans launches store No. 50
Gordmans, the Omaha-based apparel and home décor retailer, will achieve a milestone Thursday when the company opens its 50th store.
The new 60,000-square-foot store is in the O'Fallon Retail Walk Shopping Center in O'Fallon, Mo. It is the retailer's 10th store in Missouri and its sixth location in the metropolitan St. Louis area.
A grand opening celebration begins April 16.
Jeff Gordman, president and chief executive officer, said in a press release that the company had enjoyed "tremendous success" in the St. Louis market since 1994.
"The O'Fallon community is an ideal location for our landmark 50th store," Gordman said. "At Gordmans, our mission is to delight our guests with big savings on name brands in easy-to-shop stores."
The store features a children's theater and a sports-themed seating area.
Gordmans now operates in 11 states throughout the Midwest, including Nebraska and Iowa. By the end of this year, Gordmans expects to have 55 stores in 12 states.
Omaha-based Gordmans acquired by private investment firm
http://www.omaha.com/index.php?u_page=1 ... d=10436520
http://www.omaha.com/index.php?u_page=1 ... d=10436520
www.omaha.com wrote:Omaha-based Gordmans, Inc. today announced that the apparel and home fashions retailer has been acquired by an affiliate of private investment firm Sun Capital Partners, Inc.
"This partnership represents an extremely exciting time for our company," Gordmans President and CEO Jeff Gordman said in a press release.
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Jeff and Trenton said on Grow Omaha back on 4/16 that the reason Gordmans ended up in Omaha is because Dan Gordman was driving west and his car ran out of gas here in Omaha and he never left.
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Trenton and Jeff mentioned on Grow Omaha on 4/21 that Gordmans has put out and RFP for a new corporate office. Â They put it out to 4 counties in Nebraska as well as Pottawattamie County in Iowa.
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Re: Gordman's Business News
Congrats to Gordman's on 100 years!
Gordmans
Per Paige Yowell / World-Herald staff writer:
http://www.omaha.com/money/falling-stoc ... f6e0e.htmlFalling stock could put Gordmans, jobs at risk; company has 180 days to turn it around
Re: Gordman's Business News
Gordmans lays off undisclosed number of employees at Omaha headquarters, blames 'sluggish retail environment'
http://www.omaha.com/money/gordmans-lay ... 220bf.html
http://www.omaha.com/money/gordmans-lay ... 220bf.html
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Re: Official: Aksarben Village
Gordman's starts layoffs at HQ. Shares trading at 85 cents as of November. Safe to say we'll have a new office space opening up in Aksarben Village soon. Not to mention a lot of empty Gordman's storefronts throughout Omaha.
Re: Gordman's Business News
What a shame. Had Gordman's adapted faster they easily could have set themselves up as the American H&M.
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Re: Gordman's Business News
This is the second time around for me. I want to say that the building on 90th and Fort next to Baker's was once a Richman Gordman and it's still vacant. Now the Gordman's caddie corner across the street will be vacant. Maybe they can try Richman Gordman again a couple of years after they fold. Third time is a charm.Garrett wrote:What a shame. Had Gordman's adapted faster they easily could have set themselves up as the American H&M.
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Re: Gordman's Business News
It was a Richman Gordman's at one point. It housed some ConAgra or TD Ameritrade offices or something like that for a few years. I believe it's vacant now.choke wrote:This is the second time around for me. I want to say that the building on 90th and Fort next to Baker's was once a Richman Gordman and it's still vacant. Now the Gordman's caddie corner across the street will be vacant. Maybe they can try Richman Gordman again a couple of years after they fold. Third time is a charm.Garrett wrote:What a shame. Had Gordman's adapted faster they easily could have set themselves up as the American H&M.
Re: Gordman's Business News
TheSeventhBrat wrote:It was a Richman Gordman's at one point. It housed some ConAgra or TD Ameritrade offices or something like that for a few years. I believe it's vacant now.choke wrote:This is the second time around for me. I want to say that the building on 90th and Fort next to Baker's was once a Richman Gordman and it's still vacant. Now the Gordman's caddie corner across the street will be vacant. Maybe they can try Richman Gordman again a couple of years after they fold. Third time is a charm.Garrett wrote:What a shame. Had Gordman's adapted faster they easily could have set themselves up as the American H&M.
Yes ConAgra used it and it's been empty maybe a couple years. Heard today that Gordman's at 90th and Blair High Road will be closing within the next month or so.
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Re: Gordman's Business News
The OWH is reporting that Gordmans is preparing to file for Bankruptcy
http://www.omaha.com/money/omaha-based- ... ead%20more
http://www.omaha.com/money/omaha-based- ... ead%20more
Omaha-based Gordmans is preparing to file for bankruptcy, people familiar with the matter told Bloomberg News, the newswire reported Monday.................
For the record NEBUGEATER does not equal BUGEATER !!!!!!!
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Re: Gordman's Business News
Come on. That news is like 4 min old!
For the record NEBUGEATER does not equal BUGEATER !!!!!!!
Re: Gordman's Business News
Stock absolutely tanked. Is this more than a normal re-org bankruptcy?
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Re: Gordman's Business News
nebugeater wrote:
Come on. That news is like 4 min old!
If the economy is doing so wonderful thanks to Obama then why are they in trouble
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Re: Gordman's Business News
If they could ever decide what kind of retailer they are, they may have been successful. Stores like TJ Maxx, Marshall's & Home Goods are growing and other regular retail is shrinking & struggling. I say get out of apparel and concentrate on home decor or go full board off price clothing like they used to be when they were 1/2 Price Store.
Re: Gordman's Business News
Number one, get over yourself, smucks. Number two, have you set foot inside a Gordman's? They're in trouble because they suck. It's the |expletive| child of Kmart and TJ Maxx.GRANDPASMUCKER wrote:nebugeater wrote:
Come on. That news is like 4 min old!
If the economy is doing so wonderful thanks to Obama then why are they in trouble
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Re: Gordman's Business News
Actually, I was just talking with someone at Gordman's , and at the HQ, there have not been any layoffs, jobs refilled - no. But maybe only four contractors let go...
Re: Gordman's Business News
Retail is imploding right now. Many people are saying we're watching bubble burst. There are many factors, but the one I hear the most is competition from Amazon. Personally I think fewer people are spending money on fancy clothes and other home items because wages have not kept up with inflation. Although incomes are slowly increasing, Americans have less disposable income when adjusted for inflation compared to 20 years ago. I love him, but Obama can definitely be blamed for this because he didn't do as much as he could have in regard to income inequality.RNcyanide wrote:Number one, get over yourself, smucks. Number two, have you set foot inside a Gordman's? They're in trouble because they suck. It's the |expletive| child of Kmart and TJ Maxx.GRANDPASMUCKER wrote:nebugeater wrote:
Come on. That news is like 4 min old!
If the economy is doing so wonderful thanks to Obama then why are they in trouble
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Re: Gordman's Business News
daveoma wrote:Retail is imploding right now. Many people are saying we're watching bubble burst. There are many factors, but the one I hear the most is competition from Amazon. Personally I think fewer people are spending money on fancy clothes and other home items because wages have not kept up with inflation. Although incomes are slowly increasing, Americans have less disposable income when adjusted for inflation compared to 20 years ago. I love him, but Obama can definitely be blamed for this because he didn't do as much as he could have in regard to income inequality.RNcyanide wrote:Number one, get over yourself, smucks. Number two, have you set foot inside a Gordman's? They're in trouble because they suck. It's the |expletive| child of Kmart and TJ Maxx.GRANDPASMUCKER wrote:nebugeater wrote:
Come on. That news is like 4 min old!
If the economy is doing so wonderful thanks to Obama then why are they in trouble
Shares of Gordman's were worth $22 just 2 years ago and now they are worth nothing. This company might of been (probably was) a turd 5 years ago and they polished it up real good and when the stock peaked they dumped it and ran. Kind of a version of the Pump and Dump scheme.
Re: Gordman's Business News
Wow. Yes, it is Obama's fault that a crappy regional chain that specializes in the sale of cheap wall art, unfashionable clothing, inside of chintzy buildings is going bankrupt. It could also mean that people just dont want to shop there because the stores suck.
I swear to God, you say |expletive| just for the sake of being an |expletive| hat.
I swear to God, you say |expletive| just for the sake of being an |expletive| hat.
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Re: Gordman's Business News
You think Putin is behind this bankruptcy.thenewguy wrote:Wow. Yes, it is Obama's fault that a crappy regional chain that specializes in the sale of cheap wall art, unfashionable clothing, inside of chintzy buildings is going bankrupt. It could also mean that people just dont want to shop there because the stores suck.
I swear to God, you say |expletive| just for the sake of being an |expletive| hat.
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Re: Gordman's Business News
I wonder what will take over the current Gordman's HQ building. Would they break it up to cater to smaller companies?
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Re: Gordman's Business News
skinzfan23 wrote:I wonder what will take over the current Gordman's HQ building. Would they break it up to cater to smaller companies?
THere was a quote on one of the news stories I read that was from the Management of the space. They said in general that they didn't think they would ahve any problem filling it quickly if it was vacated or Gordman's somehow hung on and downsized dramatically. It did't state if it was based on one teneant or many but I am guessing in this area they could come up with a single tentant for the space.
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Re: Gordman's Business News
450 more jobs lost in the market.
Re: Gordman's Business News
http://www.kearneyhub.com/news/state/as ... 37b18.html
Found this section very interesting. Granted I don't know how common this is, but it appears this Sun Capital group saw a company ripe for the picking and took full advantage of the opportunity to milk their finances dry.A Florida-based investment firm called Sun Capital owns about 50 percent of Gordmans shares outstanding, or about 10 million shares. The investment firm contributed $20 million in fresh capital to Gordmans as part of a 2010 financial restructuring. Current or former Sun Capital executives hold four of the eight directorships on the Gordmans board.
Sun Capital didn’t take long to earn back more than its $20 million after it came to occupy slots on the Gordmans board. That board in 2013 authorized the payment of a special shareholder dividend of $3.60 a share, or $70 million. Sun Capital’s share of the total amounted to about $36 million, based on about 10 million shares owned.
To pay for the special dividend, the company used $25 million of its cash and borrowed $45 million. The expenditure sliced the company’s cash on hand, which went from $44 million in August 2013 to $9 million in November 2013. Shortly after, chief executive and scion of the founding family Jeff Gordman resigned at age 50, saying he wished to spend more time with his family. He couldn’t be reached for comment Monday.
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Re: Gordman's Business News
iamjacobm wrote:http://www.kearneyhub.com/news/state/as ... 37b18.html
Found this section very interesting. Granted I don't know how common this is, but it appears this Sun Capital group saw a company ripe for the picking and took full advantage of the opportunity to milk their finances dry.A Florida-based investment firm called Sun Capital owns about 50 percent of Gordmans shares outstanding, or about 10 million shares. The investment firm contributed $20 million in fresh capital to Gordmans as part of a 2010 financial restructuring. Current or former Sun Capital executives hold four of the eight directorships on the Gordmans board.
Sun Capital didn’t take long to earn back more than its $20 million after it came to occupy slots on the Gordmans board. That board in 2013 authorized the payment of a special shareholder dividend of $3.60 a share, or $70 million. Sun Capital’s share of the total amounted to about $36 million, based on about 10 million shares owned.
To pay for the special dividend, the company used $25 million of its cash and borrowed $45 million. The expenditure sliced the company’s cash on hand, which went from $44 million in August 2013 to $9 million in November 2013. Shortly after, chief executive and scion of the founding family Jeff Gordman resigned at age 50, saying he wished to spend more time with his family. He couldn’t be reached for comment Monday.
Gordon Gekko strikes again.