Representatives of Gordmans are not providing further details on reports of its imminent bankruptcy filing.
Bloomberg reported yesterday the century-old retail chain was preparing to file for bankruptcy, attributing the news to an unidentified source who was said to be close to the matter.
"Per our policy, Gordmans does not comment on rumor or speculation," said Amy Myers, senior vice-president of marketing at Gordmans.
Myers provided no further information on the Bloomberg report.
Shares of the Omaha, Neb.-based company have fallen more than 75 percent in the past year, battered by losses in five of the last six quarters, Bloomberg news reported.
Retail department stores have had a string of closures and bankruptcies in the past few months.
Macy's recently announced the closing of 100 stores, including the Grand Forks location at the Columbia Mall, which is slated to shut down at the end of this month.
Last week, Vanity Shop of Grand Forks Inc. filed for Chapter 11 bankruptcy, and the company announced it is closing all 137 of its stores, as well as its online sales operations.
Late last month, J.C. Penney announced its intention to close over 130 stores over the next few months. The company has not yet said if the Grand Forks location, also at Columbia Mall, will be among those stores being closed.