“The blended effects of a tough retail setting coupled with the effect of the Coronavirus (COVID-19) pandemic have brought on sizeable financial distress on our business,” wrote Chief Govt Officer Hunt Hawkins in a information release. “The Firm lacks enough liquidity to proceed running in the everyday training course of business.”
Headquartered in Jacksonville, Florida, Stein Mart has extra than 280 shops in thirty states specializing in apparel, shoes and housewares at discount selling prices. A lot of of the shops are found in group procuring centers. As of May possibly thirty, the corporation used about 8,400 people today.
Hawkins explained Stein Mart will proceed to function normally “in the in the