Stein Mart to close most, perhaps all, of its stores
August 13, 2020
Stein Mart has filed for Chapter 11 bankruptcy protection and announced it plans to shutter most, if not all, of its 281 stores across 30 states. The announcement adds the off-pricer to more than 40 retailers that have filed for bankruptcy so far this year, according to S&P Global Market Intelligence. “The combined effects of a challenging retail environment coupled with the impact of the Coronavirus pandemic have caused significant financial distress on our business,” said Stein Mart CEO Hunt Hawkins. “The company lacks sufficient liquidity to continue operating in the ordinary course of business.”
Recent News
NHTSA Investigates Tesla Autopilot Again After Recent Software Update
Tesla Autopilot is once again the subject of an NHTSA investigation.
Home Depot Holds Halfway to Halloween Sale: Skelly’s Back
It’s halfway to spooky season, and Home Depot is celebrating.
Kaiser Discloses Health Insurance Data Breach
Health insurance company Kaiser is notifying millions of its current and former members about a data breach. The breach occurred when Kaiser shared patients’ information with third-party advertisers like Google, Microsoft, and X (formerly Twitter).
Satirical Site The Onion Acquired by Global Tetrahedron
The satirical news website, The Onion, has been sold by G/O Media to a group of digital media veterans.