BRIEF-Stage Stores Commences Voluntary Chapter 11 Process

May 11 (Reuters) - Stage Stores Inc :
   * STAGE STORES COMMENCES VOLUNTARY CHAPTER 11 PROCESS
   * COMPANY CONDUCTING SALE PROCESS FOR ALL OR PART OF BUSINESS WHILE COMMENCING ORDERLY WIND-DOWN OF OPERATIONS
   * STAGE STORES - WILL SIMULTANEOUSLY SOLICIT BIDS FOR GOING CONCERN SALE OF BUSINESS OR ANY OF ASSETS AND INITIATE AN ORDERLY WIND-DOWN OF OPERATIONS
   * WILL TERMINATE WIND-DOWN OF OPERATIONS AT CERTAIN LOCATIONS IF IT RECEIVES A VIABLE GOING-CONCERN BID
   * COMPANY CURRENTLY ANTICIPATES THAT FIRST PHASE OF APPROXIMATELY 557 STORES WILL OPEN ON MAY 15, 2020
   * STAGE STORES -INTENDS TO SEEK APPROVAL FOR CONSENSUAL USE OF CASH COLLATERAL TO ENSURE IT HAS LIQUIDITY NECESSARY TO SUPPORT OPERATIONS IN CHAPTER 11
   * STAGE STORES - CO ANTICIPATES SECOND PHASE OF ABOUT 67 STORES EXPECTED TO OPEN ON MAY 28, 2020 AND BALANCE OF CHAIN EXPECTED TO OPEN ON JUNE 4, 2020
   * STAGE STORES - CO DISCLOSED THAT JASON CURTIS, EXECUTIVE VP AND CFO, IS LEAVING CO TO PURSUE A CAREER WITH ANOTHER RETAILER, EFFECTIVE MAY 22, 2020

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