The company had suffered poor sales in the 2019 holiday season, and after the onset of the COVID-19 pandemic and the ensuing retail shutdowns that began in March 2020, Stage Stores was unable to secure financing that would allow the continued operation of the chain.

[5][6][7] Exclusive brands of the company included Valerie Stevens, Signature Studio, Sun River, Rustic Blue, Rebecca Malone, and Wishful Park.

Closures as part of the bankruptcy included most of the former Fashion Bar, Milliken's, Tri-North, and Uhlman's stores, as well as an exodus from Wisconsin, Michigan, and Minnesota.

CEO Michael Glazer cited the high sales increases in the locations that were converted in 2018 as the deciding factor in the decision.

[15] In May 2020, Stage Stores filed for Chapter 11 bankruptcy, even though the ongoing conversions had resulted in same-store sales rising more than 17% in the November-January fiscal quarter.

CEO Michael Grazer cited the high sales increases in locations that had already been converted as the main factor in this decision.

[7][5][6] On October 21, 2020, Stage sold its intellectual property and a distribution center in Texas to Florida-based Bealls, Inc. for $7 million.

Bealls also acquired the rights to the names of Stage's other chains, as well as all of its private label brands and customer lists.