Gordmans, founded as a single apparel shop in Omaha in 1915, declined to comment on the bankruptcy Monday. The company filed under Chapter 11 of the bankruptcy code. That is the part that allows companies to continue operating while their debts are reorganized under court supervision. Gordmans, however, said in the court filings that liquidating “substantially all of the debtors assets offered the best available alternative.” In other words, it would make more sense to sell everything the company owns than to try to sell the company itself.

Gordmans said in court filings that it has between $145 million and $153 million of merchandise on hand, which it expects to be worth at least $74 million in a going-out-of-business sale. The company said in the court papers that such a sale would include “furniture, furnishings, trade fixtures, machinery, equipment, office supplies, conveyor systems, racking, rolling stock, improvements and other property.”