6,300 Stores Close As Consumers’ Buying Priorities Change

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279 stores of Stein Mart

Chain Store Age

The 112-year-old off-price chain store filed for bankruptcy in August and said it’s failure was due to the changing consumer habits its customers had during the pandemic, which “have caused significant financial distress on our business.” Like most retailers, Stein Mart’s operations were severely damaged when the lockdown forced temporary store closures in various states. What began as a small department store in 1908, Stein Mart opening its first branch in Mississippi before expanding to 300 locations in 30 states, of which they are closing 279 branches this year. The company currently employs over 8,000 people.