Stein Mart filed for Chapter 11 bankruptcy Wednesday, and is also exploring a sale of its e-commerce business. "The combined effects of a challenging retail environment coupled with the impact of the Coronavirus pandemic have caused significant financial distress on our business," CEO and CFO Hunt Hawkins said in a statement.Off-price retailer Stein Mart filed for Chapter 11 bankruptcy Wednesday and said it would close "a significant portion, if not all" of its stores.
Stein Mart operates 281 stores in 30 states. It sells clothing, accessories, home decor, and shoes at discounted prices. The retailer was struggling to revive sales even before the pandemic hit, and temporary closures dragged sales down further.
I went their once... I couldn't find one stein for my beer collection.
Stein Mart kept me in professional banking dress before I had a professional banking salary. I will miss it.
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Many more corporates to follow! 10T worth of bankruptcies.
Not a shocker. Their demographic is over 60 yr old women and many aren’t leaving their homes to leisurely shop.
That place should have closed awhile ago. Walked in the spot once like how is this even still in business lol
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