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Gordmans Stores Is Said to Prepare for Bankruptcy Filing

  • Shares of Midwestern retailer have fallen 75% in past year
  • Broader industry hit by sluggish traffic, e-commerce pressure
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Gordmans Stores Inc., a Midwestern department-store chain founded more than a century ago, is preparing to file for bankruptcy, according to people familiar with the matter.

The filing could come as soon as this month, said the people, who asked not to be identified because the process isn’t public. Shares of the Omaha, Nebraska-based company have fallen more than 75 percent in the past year, battered by losses in five of the last six quarters.