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Stage Stores Stock Plummets, Report Says Retailer Could Be Preparing For Bankruptcy

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Stage Stores Stock Plummets, Report Says Retailer Could Be Preparing For Bankruptcy

Stage Stores (NYSE: SSI) shares are trading lower on Tuesday following a Wall Street Journal report that the company is preparing for a possible bankruptcy.

Citing people familiar with the matter, WSJ reports the company is preparing for a "financial restructuring that could include a bankruptcy filing" as the retailer contends with persistent losses.

In January, Debtwire reported Stage Stores was working with the investment bank and financial services firm Peter J Solomon and law firm Kirkland & Ellis looking to refinance its bank debt.

Houston-based Stage Stores is a department store company specializing in retailing off-price brand name apparel, accessories, cosmetics, footwear, and housewares.

Stage Stores shares were trading down 33.3% to 77 cents at time of publication. The stock has a 52-week high of $9.50 and a 52-week low of 55 cents.

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