Gordmans, headquartered in Omaha, filed for bankruptcy protection in March after sales continued to decline since 2012. Sales fell 6% to $418 million through the first nine months of fiscal 2016. Losses during that period hit $12.5 million.
The court approved liquidation will give unsecured creditors between 5 and 11 cents on the dollar. One of those unsecured creditors is Werner Enterprises, the Omaha trucking firm owed around $450,000.
Gordmans operated nearly 100 stores in 22 states at one time. It had warehouses in Nebraska and Indiana.
Stage Stores, a department store chain based in Texas, bought about half of the Gordmans stores for $40 million.