The Briefing Room
General Category => Economy/Business => Topic started by: truth_seeker on August 14, 2020, 05:23:23 pm
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Stein Mart to close stores files for Bankruptcy
Hq in Jacksonville
Founded in Mississippi
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A link to one of the stories about the bankruptcy:
Stein Mart files for bankruptcy and plans to close most, if not all, of its stores
The off-price chain Stein Mart announced Wednesday it has filed for Chapter 11 bankruptcy protection and plans to permanently close most, if not all, of its stores, adding to the turmoil in a retail industry that has been hammered by the coronavirus pandemic.
https://www.cnbc.com/2020/08/12/stein-mart-files-for-bankruptcy-plans-to-close-most-stores-for-good.html (https://www.cnbc.com/2020/08/12/stein-mart-files-for-bankruptcy-plans-to-close-most-stores-for-good.html)
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I know there are a couple of stores in my area, but I have never been in one. Sounds like it's another retailer blaming COVID when brick and mortar stores have all been losing money well before the virus hit.
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Trump's Fault.
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I went there first, then my wife and her sister.
My wife described it as perfect for women's business wear.
For years I bought business wear there. Hate to lose them.
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Not 100% up to date with their business model, but the data shows they were struggling before the pandemic.
Another Amazon Brick and Mortar inflicted casualty so to say. With a double whammy of COVID-19.
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Stein Mart to close stores files for Bankruptcy
Hq in Jacksonville
Founded in Mississippi
Look for them to appear again in six months under a different name.
That's an important market niche. The ultimate bargain to get them in the store and let the impulse buying begin.
...just ask my lady friend. She goes minimum twice a week. Nordstorm's Rack...Marshalls...Tuesday Morning.
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Look for them to appear again in six months under a different name.
That's an important market niche. The ultimate bargain to get them in the store and let the impulse buying begin.
...just ask my lady friend. She goes minimum twice a week. Nordstorm's Rack...Marshalls...Tuesday Morning.
@DCPatriot
I sure hope you are right. America needs unrestricted sales outlets to compete with one another,provide job options,and guarantee a broad selection of merchandise in order to remain free and prosperous.