Stage Stores

Stage Stores' May 2020 bankruptcy collapsed 738 stores operating under names like Bealls, Goody's, Palais Royal, and Peebles, primarily in small-town America. The company had attempted a strategic pivot, converting traditional department stores to off-price Gordmans format. The pivot was working - converted stores showed sales increases - but COVID hit before conversions could reach scale. Stage Stores liquidated entirely, leaving rural communities without local retail options. The bankruptcy demonstrated that good strategy executed during bad timing still fails.