Stein Mart

Retail
Stein Mart Starts Going Out Of Business Sales

Stein Mart, which just filed for Chapter 11 reorganization, has 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. 

Retail
Stein Mart Files Chapter 11

Stein Mart and its subsidiaries have 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.

Retail
Coronavirus Threatens Stein Mart Survival

As it filed its annual 10-K report with the United States Securities and Exchange Commission on June 15, Stein Mart executives warned that the company might not be able to continue operations due to pressures related to the COVID-19 pandemic.

Retail
Stein Mart And Kingswood End Merger Agreement

Stein Mart and Kingswood Capital Management have mutually agreed to terminate their merger agreement, previously announced in January, under which an affiliate of Kingswood was to acquire all of the outstanding common stock of Stein Mart not already beneficially owned by affiliates of Jay Stein, Stein Mart’s former CEO and current chairman of the board of directors, and related investors.

Retail
Stein Mart Extends Temporary Store Closures

Based on the latest guidance from federal, state and local government and health authorities, and in the interest of the health and safety of its customers and associates, Stein Mart is extending the temporary closure of all stores beyond the previously announced March 31 date. As the situation continues to evolve rapidly, Stein Mart is not currently able to predict when the stores will reopen.

Retail
Stein Mart Enters Into Transaction To Become A Private Company

Stein Mart has entered into a definitive merger agreement under which an affiliate of Kingswood Capital Management will acquire all of the outstanding common stock of Stein Mart not already beneficially owned by affiliates of Jay Stein, Stein Mart’s former CEO and current chairman of the board of directors, and related investors for $0.90 per share in cash.

Retail
Stein Mart To Gain Feedback From Female Business Leaders

Stein Mart has formed the SMart Council, a panel of 13 accomplished, fashion-savvy businesswomen from key markets throughout the U.S. where the company operates. The panel will provide insight into their shopping patterns, what issues frustrate them, offer solutions and share objective views of their Stein Mart shopping experiences to generate ideas to improve the customer experience.

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