Stein Mart to Close 279 Locations Through Going Out of Business Sales
Stein Mart filed for Chapter 11 reorganization and authorized going out of business sales by a joint venture comprising Gordon Brothers, Hilco Merchant Resources, Tiger Capital Group, B. Riley Financial’s Great American Group and SB360 Capital Partners. The sale process is underway at all 279 Stein Mart locations across the U.S.
Founded in 1908, Stein Mart offers up-to-the-minute brand name fashion for men and women, unique home décor and gifts, and the season’s trendiest accessories at up to 60% off department store prices, every day. Stein Mart customers can now take advantage of savings of up to 30% off the lowest ticketed prices storewide. Stein Mart’s extensive inventory includes the latest fashions and styles for the whole family, essentials for the kitchen and bath, home décor, and more. A wide range of dorm room necessities and back-to-learning basics can also be found at greatly reduced prices. These significant discounts are valid throughout the stores and include customers’ favorite brands across all departments.
“New merchandise arriving in stores, as well as customers’ favorite familiar brands, are deeply discounted and will sell out quickly at these low prices,” a spokesperson for the joint venture stated. “We are encouraging shoppers to take advantage of Stein Mart’s abundant assortment of merchandise at substantial price reductions before it’s too late.”
Stein Mart gift cards and loyalty rewards will be accepted for a limited time. Store fixtures, furniture and equipment will also be sold at discounted prices as part of the going out of business sale.