A going-out-of-business sale will begin Friday or Saturday, according to spokeswoman Linda Tasseff. The store announced that it will be closing most or all of its locations in the United States. (Gray News) - Stein Mart has announced its filing for bankruptcy, and it expects to close a significant amount of its locations as a result.

It borrowed $10 million in June under the federal Paycheck Protection Program to help with payroll, which was estimated between $24 million and $48 million. Stein Mark going out of business sale. Stein Mart operates 281 stores in 30 states — its St. Louis-area stores are in Sunset Hills, Rock Hill and Town and Country. Crew; J.C. Penney; Neiman Marcus; Men's Wearhouse; Jos. A. I would like to thank all of our employees for their dedication and support.”Hawkins said Stein Mart will continue to operate normally “in the near term,” and is evaluating the potential sale of its eCommerce business. “It’s a little sad. We have loved serving our communities over the years and are so grateful to our loyal customers who chose to shop our stores,” Hawkins said.Before the pandemic began, the Jacksonville-based business had 375 employees working in its corporate office. The 112-year-old company blamed its failure on changing consumer habits and the pandemic, both of which "have caused significant financial distress on our business," Stein Mart CEO Hunt Hawkins said in a release on Wednesday. Stein Mart, a national discount department store chain, has filed for Chapter 11 bankruptcy protection and said it will close most, if not all of its 281 U.S. stores. According to Stein Mart’s website, it currently operates six stores in Jacksonville: Atlantic Boulevard, Baymeadows Road, Roosevelt Boulevard, San Jose Boulevard and University Boulevard and Third Street in Jacksonville Beach.Customers at the Atlantic Boulevard store said Wednesday they were disappointed in the financial downfall but not surprised.“I feel like it’s just another one of the department stores you could walk into going down,” said shopper Jenn Dixon.

“The Company has determined that the best strategy to maximize value will be a liquidation of its assets pursuant to an organized going out of business sale. The company had almost $200 million in total debt as of May 2, court documents show.The company has nearly 8,000 workers, but many were furloughed after the virus temporarily shuttered its stores, Hawkins said in court About two dozen retailers, big and small, have filed for Chapter 11 protection this year, far exceeding the number for all of last year. Stein Mart began in 1908 as a small department store in Mississippi before eventually expanding to nearly 300 locations across 30 states. Stein Mart has filed for bankruptcy with plans to permanently close all or most stores, becoming the latest distressed department-store chain to succumb to the coronavirus pandemic. “It’s kind of sad because they’ve been around a while, and it’s a good store.”About two dozen retailers, big and small, have filed for Chapter 11 protection this year, far exceeding the number for all of last year.Among them: America’s oldest retailer, Lord & Taylor; J. "Please know that this was an extremely difficult decision, and is deeply disappointing for all of us at Stein Mart," Hawkins said in a statement. Stein Mart is seen at the Tanglewood Mall in Roanoke, Va., in April 2013. Among them were Lord & Taylor; J.

ST. PETERSBURG, Fla. (AP) - National discount department store chain Stein Mart filed for bankruptcy on Wednesday after 112 years in business, and announced that it … I like their styles and stuff.”“I’m not surprised with all the online stores now, and people afraid to leave, and things being delivered for free,” said another customer named Terry. A going-out-of-business sale will begin Friday or Saturday, according to spokeswoman Linda Tasseff, who said she anticipates all stores will close by the fourth quarter of 2020, with closing dates varying by store.Headquartered in Jacksonville, Florida, Stein Mart has more than 280 stores in 30 states specializing in clothing, shoes and housewares at discount prices.
The Company lacks sufficient liquidity to continue operating in the ordinary course of business. The company borrowed $10 million in June under the federal Paycheck Protection Program, a federal initiative targeted to small businesses affected the coronavirus.


"Stein Mart temporarily closed its businesses on March 18 during the first wave of the pandemic. Still, Stein Mart's financial struggles pre-date the health crisis. The off-price chain Stein Mart, which announced Wednesday it had filed for Chapter 11 bankruptcy protection, will officially be closing all of its stores for good.. The retailer has nine stores in metro Atlanta, although the company did not specify which stores will definitely close. Many of the stores are located in community shopping centers. The company’s announcement said it expects to close a significant number, if not all, of its brick-and-mortar stores and is beginning a store closing and liquidation process.“The combined effects of a challenging retail environment coupled with the impact of the Coronavirus (COVID-19) pandemic have caused significant financial distress on our business,” said Hunt Hawkins, Stein Mart Inc.‘s chief executive officer. As of May 30, the company employed about 8,400 people. Postal Service warns some mail-in votes may not be counted in PennsylvaniaMore than 1,500 students and staff quarantined as schools reopenEMS workers are quitting.