Houston-based national retailer closing stores, furloughing most workers, cutting execs’ pay

Houston-based Stage Stores Inc. (NYSE: SSI) had its own set of struggles even before the coronavirus pandemic brought much of the retail sector to a halt.

Now, the department store owner is taking steps to significantly scale back operations to reduce costs and preserve liquidity, according to a press release.

Stage has temporarily closed all of its 738 stores as of Friday, March 27. Previously, about 393 stores were closed in compliance with state and local regulations, while the others primarily…