Stein Mart Inc. files for bankruptcy, launches store closing process

Signs in the window of the Stein Mart store in Frisco state it will be among the locations closing as part of the company's liquidation process. (Valerie Wigglesworth/Community Impact Newspaper)
Signs in the window of the Stein Mart store in Frisco state it will be among the locations closing as part of the company's liquidation process. (Valerie Wigglesworth/Community Impact Newspaper)

Signs in the window of the Stein Mart store in Frisco state it will be among the locations closing as part of the company's liquidation process. (Valerie Wigglesworth/Community Impact Newspaper)

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Signs in the window of the Stein Mart store in Frisco state it will be among the locations closing as part of the company's liquidation process. (Valerie Wigglesworth/Community Impact Newspaper)
Stein Mart Inc. announced Aug. 12 that it had voluntarily filed for bankruptcy as it does not have “sufficient liquidity” to continue operations. A press release from the company said it expects to close “a significant portion, if not all” of its stores and has launched a store closing and liquidation process.

“The combined effects of a challenging retail environment coupled with the impact of the coronavirus (COVID-19) pandemic have caused significant financial distress on our business,” Stein Mart Chief Executive Officer Hunt Hawkins said in the release. “The company has determined that the best strategy to maximize value will be a liquidation of its assets pursuant to an organized going out of business sale.”


Stein Mart has 281 stores in 30 states, including more than a dozen stores in the Dallas-Fort Worth-area. Some DFW locations include 1701 Preston Road in Plano, 3333 Preston Road in Frisco, 3550 W. University Drive in McKinney, 6101 Long Prairie Road in Flower Mound, 1610 Keller Parkway in Keller and Fort Worth locations at 6385 Camp Bowie Blvd. and 5026 S. Hulen St.

A list of specific store closures was not released Aug. 12, but signs in the window of the Frisco location stated it was going out of business. www.steinmart.com

By William C. Wadsack
William C. Wadsack is the senior reporter for the Plano and Richardson editions of Community Impact Newspaper. He previously served as managing editor of several daily and weekly publications in North Texas and his native state of Louisiana before joining Community Impact Newspaper in 2019.


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