Stage Stores Falls After Report It May File for Bankruptcy

Stage Stores Inc. fell as much as 42% after Dow Jones reported the discount store was preparing for a financial restructuring that could include a bankruptcy filing.

• Dow Jones cited unidentified people familiar with the matter
• Company likely to file chapter 11, although the situation remains fluid
• Stage stores is working with Joshua Sussberg, a restructuring lawyer at Kirkland & Ellis; company also working with A&G Real Estate Partners and Berkeley Research Group
• Stage Stores and Sussberg didn’t respond to DJ’s requests for comment

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