Gordman's Business News

News and releases from metro area businesses

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Gordman's Business News

Postby eomaha » Wed Mar 23, 2005 11:46 pm

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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Postby Swift » Thu Mar 24, 2005 12:31 am

Weird. Aaron and I went to school with the famil who owns that.

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Postby TitosBuritoBarn » Thu Mar 24, 2005 12:33 pm

Just think of if they became as big as Target or Kohls. You height junkies may see a new Gordmans Tower. Are they still headquartered at the Richmond-Gordman building off 120th?

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Postby eomaha » Tue Apr 05, 2005 10:38 pm

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.

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Postby Brad » Thu Sep 18, 2008 11:28 am

Omaha-based Gordmans acquired by private investment firm

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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Postby nebugeater » Sat Jan 10, 2009 7:42 am

Last night I talked to a person that I know that works at Gordmans.  Per this person there were 25 people let go at the "home office" yesterday (Friday).
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Postby Brad » Wed Apr 27, 2011 9:24 am

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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Postby Brad » Tue May 01, 2012 8:45 am

Trenton and Jeff mentioned on Grow Omaha on 4/21 that Gordmans has put out and RFP for a new corporate office.  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

Postby iamjacobm » Mon Aug 31, 2015 6:21 pm

Congrats to Gordman's on 100 years!

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Gordmans

Postby choke » Fri Nov 04, 2016 7:06 am

Per Paige Yowell / World-Herald staff writer:


Falling stock could put Gordmans, jobs at risk; company has 180 days to turn it around


http://www.omaha.com/money/falling-stock-could-put-gordmans-jobs-at-risk-company-has/article_3c92b55f-b5ee-57a3-a51f-cf12c5df6e0e.html

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Re: Gordman's Business News

Postby Garrett » Fri Nov 04, 2016 9:18 am

I feel like I can already hear the two dreaded words...
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Re: Gordman's Business News

Postby Brad » Fri Jan 27, 2017 1:24 pm

Gordmans lays off undisclosed number of employees at Omaha headquarters, blames 'sluggish retail environment'

http://www.omaha.com/money/gordmans-lay ... 220bf.html
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Re: Official: Aksarben Village

Postby choke » Fri Jan 27, 2017 2:18 pm

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.

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Re: Gordman's Business News

Postby Garrett » Sat Jan 28, 2017 10:00 pm

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

Postby choke » Sat Jan 28, 2017 10:14 pm

Garrett wrote:What a shame. Had Gordman's adapted faster they easily could have set themselves up as the American H&M.


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.

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Re: Gordman's Business News

Postby TheSeventhBrat » Sun Jan 29, 2017 1:02 pm

choke wrote:
Garrett wrote:What a shame. Had Gordman's adapted faster they easily could have set themselves up as the American H&M.


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.

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.

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Re: Gordman's Business News

Postby Uffda » Sun Jan 29, 2017 5:44 pm

TheSeventhBrat wrote:
choke wrote:
Garrett wrote:What a shame. Had Gordman's adapted faster they easily could have set themselves up as the American H&M.


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.

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.



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

Postby nebugeater » Mon Mar 06, 2017 6:38 pm

The OWH is reporting that Gordmans is preparing to file for Bankruptcy

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.................
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Re: Gordman's Business News

Postby Coyote » Mon Mar 06, 2017 6:42 pm

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Re: Gordman's Business News

Postby nebugeater » Mon Mar 06, 2017 7:02 pm




Come on. That news is like 4 min old!
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Re: Gordman's Business News

Postby riceweb » Mon Mar 06, 2017 7:47 pm

Stock absolutely tanked. Is this more than a normal re-org bankruptcy?

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Re: Gordman's Business News

Postby GRANDPASMUCKER » Mon Mar 06, 2017 7:55 pm

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 :what:

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Re: Gordman's Business News

Postby debradomayer » Mon Mar 06, 2017 8:02 pm

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.

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Re: Gordman's Business News

Postby RNcyanide » Thu Mar 09, 2017 9:25 pm

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 :what:


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.
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Re: Gordman's Business News

Postby Coyote » Thu Mar 09, 2017 10:04 pm

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...
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Re: Gordman's Business News

Postby daveoma » Sat Mar 11, 2017 12:25 pm

RNcyanide wrote:
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 :what:


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.

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.

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Re: Gordman's Business News

Postby GRANDPASMUCKER » Mon Mar 13, 2017 5:34 pm

daveoma wrote:
RNcyanide wrote:
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 :what:


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.

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.



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.

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Re: Gordman's Business News

Postby thenewguy » Mon Mar 13, 2017 7:56 pm

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

Postby GRANDPASMUCKER » Mon Mar 13, 2017 10:36 pm

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.


You think Putin is behind this bankruptcy. :lol:

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Re: Gordman's Business News

Postby skinzfan23 » Tue Mar 14, 2017 8:41 am

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

Postby nebugeater » Tue Mar 14, 2017 2:57 pm

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

Postby iamjacobm » Wed Mar 15, 2017 12:36 pm

450 more jobs lost in the market.

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Re: Gordman's Business News

Postby iamjacobm » Wed Mar 15, 2017 3:39 pm

http://www.kearneyhub.com/news/state/as-gordmans-looks-to-liquidate-retailer-could-join-conagra-and/article_bad16800-0905-11e7-85df-4b6670b37b18.html

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.


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.

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Re: Gordman's Business News

Postby GRANDPASMUCKER » Wed Mar 15, 2017 6:25 pm

iamjacobm wrote:http://www.kearneyhub.com/news/state/as-gordmans-looks-to-liquidate-retailer-could-join-conagra-and/article_bad16800-0905-11e7-85df-4b6670b37b18.html

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.


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.



Gordon Gekko strikes again.

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Re: Gordman's Business News

Postby NovakOmaha » Wed Mar 15, 2017 8:39 pm

Here's a bit more backstory to the Sun Capital Partners/Gordman's story. They didn't break any law but it sure makes them look like, well, Gordon Gecko.
It's from July of 2014 so it's not exactly new news.

http://seekingalpha.com/article/2310075 ... t-downside

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Re: Gordman's Business News

Postby GRANDPASMUCKER » Wed Mar 15, 2017 10:14 pm

NovakOmaha wrote:Here's a bit more backstory to the Sun Capital Partners/Gordman's story. They didn't break any law but it sure makes them look like, well, Gordon Gecko.
It's from July of 2014 so it's not exactly new news.

http://seekingalpha.com/article/2310075 ... t-downside



After reading that article....................Yes it was a version of the "Pump & Dump"

Theres good news though. They got a new super hero out there called the "Accountant" played by Ben Affleck whos cracking down on these corporate bad guys . I found that out last week when I rented "The Accountant" from Red Box. Don't watch that movie unless you want to be dumbed down back to the 3rd grade.

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Re: Gordman's Business News

Postby TitosBuritoBarn » Thu Mar 16, 2017 9:28 am

KETV is reporting that the 450 jobs are currently threatened, but not eliminated. Granted, someone's going to have to come in and buy the company for them to be saved.

http://www.ketv.com/article/dmv-cracks-down-disabled-placard-sting/9140562
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Re: Gordman's Business News

Postby Omaha Cowboy » Thu Mar 16, 2017 11:34 am

TitosBuritoBarn wrote:KETV is reporting that the 450 jobs are currently threatened, but not eliminated. Granted, someone's going to have to come in and buy the company for them to be saved.

http://www.ketv.com/article/dmv-cracks-down-disabled-placard-sting/9140562


Unfortunately, that link is to a story about the DMV.. I'm not seeing the Gorman's story link currently on KETV's website.. Perhaps they took it down?...

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Re: Gordman's Business News

Postby TitosBuritoBarn » Thu Mar 16, 2017 1:30 pm

Omaha Cowboy wrote:
TitosBuritoBarn wrote:KETV is reporting that the 450 jobs are currently threatened, but not eliminated. Granted, someone's going to have to come in and buy the company for them to be saved.

http://www.ketv.com/article/dmv-cracks-down-disabled-placard-sting/9140562


Unfortunately, that link is to a story about the DMV.. I'm not seeing the Gorman's story link currently on KETV's website.. Perhaps they took it down?...

Ciao..LiO...Peace


Hmm. That's odd. They must have.
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Re: Gordman's Business News

Postby Omaha Cowboy » Thu Mar 16, 2017 2:03 pm

TitosBuritoBarn wrote:
Omaha Cowboy wrote:
TitosBuritoBarn wrote:KETV is reporting that the 450 jobs are currently threatened, but not eliminated. Granted, someone's going to have to come in and buy the company for them to be saved.

http://www.ketv.com/article/dmv-cracks-down-disabled-placard-sting/9140562


Unfortunately, that link is to a story about the DMV.. I'm not seeing the Gorman's story link currently on KETV's website.. Perhaps they took it down?...

Ciao..LiO...Peace


Hmm. That's odd. They must have.


Odd indeed my friend.. This entire Gordman's fiasco has an odd feeling to it overall..

I remember when I was a kid, I used to walk to Richman-Gordman and buy 45 records for $0.99 cents a piece.. The memories...

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