As it prepares for liquidation, Stein Mart has filed its list of top 20 creditors with the bankruptcy court.
On August 12, Stein Mart and its subsidiaries filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Middle District of Florida, Jacksonville Division. It then authorized a going out of business sale conducted by Gordon Brothers, Hilco Merchant Resources, Tiger Capital Group, B. Riley Financial’s Great American Group and SB360 Capital Partners. The sales have begun at all 279 Stein Mart locations across the U.S.
The top three Stein Mart creditors are CIT Commercial Services, owed $16.4 million; Rosenthal & Rosenthal, owed $10.7 million, both for merchandise/goods, according to a Stein Mart court filing; and Harvest Small Business Finance, owed $10 million for a small business PPP loan.
The rest of the top 20 creditors are:
- Wells Fargo Trade Capital Services, owed $7.8 million for merchandise/goods.
- Camelot Strategic Marketing and Media, owed $5.7 million for advertising and marketing.
- White Oak Commercial Finance, owed $2.7 million for merchandise/goods.
- Levtex, owed $1.9 million for merchandise/goods.
- Peerless Clothing, owed $1.7 million for merchandise/goods.
- Tharanco Lifestyles, owed $1.7 million for merchandise/goods.
- Milberg Factors, owed $1.4 million for merchandise/goods.
- Sterling National Bank, owed $1.3 million for merchandise/goods.
- Michael Kors, owed $1.3 million for merchandise/goods.
- Oracle America, owed $1.2 million for applications support.
- PVH Corp., owed $1.1 million for merchandise/goods.
- DSW, owed $855,000 for a consignment sales contract.
- Microsoft Licensing GP, owed $817,000 for an application license.
- Hanesbrands, owed $769,000 for merchandise/goods.
- John Paul Richard, owed $761,000 for merchandise/goods.
- Kellwood Apparel, owed $738,000 for merchandise/goods.
- Purered Creative, owed $635,000 for photography and media/e-com