"The company is evaluating alternatives, including the potential sale of its eCommerce business and related intellectual property.“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," CEO Hunt Hawkins said in the release. Baillie Gifford said its reduced its Tesla stake given guidelines that restrict the percentage of the portfolio that can be in a single stock, following the run up in prices, according to a report in The Wall Street Journal.

"We anticipate all stores will close by the fourth quarter of 2020, with closing dates varying by store. Discount retailer Stein Mart has filed for bankruptcy and plans to close most of its nearly 300 stores. Gift cards and loyalty rewards will be accepted “for a limited time.”Jacksonville, Fla.-based Stein Mart was originally established in the early 1900s as a single store in Greenville, Miss. We find 223 Stein Mart locations in California. Stein Mart has filed for bankruptcy and now the retailer is kicking off going-out-of-business sales at all of its stores. ET Aug. 12, 2020 | The company’s stock price has fallen throughout the year, dropping from $0.67 when the year started to $0.29 on Tuesday. “We are encouraging shoppers to take advantage of Stein Mart’s abundant assortment of merchandise at substantial price reductions before it’s too late.”The JV said store fixtures, furniture and equipment will be sold at discounted prices as part of the closeout sales. It has 9,000 employees. Published 12:37 p.m. "Our going-out-of-business sale is expected to begin in our stores August 14 or 15," the company told USA TODAY in a statement. When Stein Mart Inc. became the latest struggling retailer to succumb to the COVID-19 pandemic by filing for bankruptcy on Wednesday, the 112-year old off-price retailer said it … Shop Stein Mart to save up to 60% off department store prices. “New merchandise arriving in stores, as well as customers’ favorite familiar brands, are deeply discounted and will sell out quickly at these low prices,” said a spokesperson for the joint venture in a statement.

It began reopening in April, and eventually reopened all of its stores … The stock, which reached its premarket high minutes after trading started at 4 a.m. Eastern, is attempting a bounce after falling 4.7% on Tuesday in the wake of plans to sell up to $5 billion worth of shares. Find top brands of clothing, home goods & more with buy online pickup in-store options. Let friends in your social network know what you are reading aboutOff-price retailer Stein Mart is the latest in a long list of businesses to file for bankruptcy amid the COVID-19 pandemic and will close all stores.A link has been sent to your friend's email address. You can follow him on Twitter @TomiKilgore. "Stein Mart's bankruptcy is one of many steps the company has taken to remain viable.The publicly traded company’s board agreed in January to be taken over by a private company, but that deal with Kingswood Capital Management was put on ice when the pandemic threw the business world into turmoil.© 2020 USA TODAY, a division of Gannett Satellite Information Network, LLC.Read or Share this story: https://www.usatoday.com/story/money/2020/08/12/steinmart-stores-closing-2020-liquidation-sale-bankruptcy-coronavirus/3354606001/

Deals are for up to 30% off merchandise. The stock fell Wednesday to $0.17.The company said in June it had landed $10 million in aid through the federal Paycheck Protection Program but the business acknowledged this week that it had laid off a number of employees at its Southbank headquarters. The Jacksonville, Florida-based retailer said Wednesday it plans to "close a significant portion, if not all, of its brick-and-mortar stores" and has "launched a store closing and liquidation process," according to a The company operates 281 stores in 30 states and all stores will continue to operate during the Chapter 11 process. It employs nearly 8,000 people, down from about 9,000 before the COVID-19 pandemic, Shares of Tesla Inc. edged up 0.8% in premarket trading, paring earlier gains of as much as 3.7%, after it was disclosed that a large shareholder reduced its stake in the electric vehicle maker.

When Stein Mart Inc. became the latest struggling retailer to succumb to the COVID-19 pandemic by filing for bankruptcy on Wednesday, the 112-year old off-price retailer said it expected to close “a significant portion, if not all” of its stores.

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