Stein Mart Filing Bankruptcy – Could Impact Evansville Location
Stein Mart, a discount retailer with a location in Evansville, has filed for Chapter 11 bankruptcy, according to reports from CNN. The company, which has been in business since 1908, is facing financial distress similar to many other retailers amid the coronavirus pandemic.
Stein Mart employs thousands across the country at their nearly 300 locations, including the location on South Green River Road here in Evansville. They say they plan to close nearly all of stores, if not all of them due to the financial hardships the company has endured due to the pandemic. And they aren't the only ones. Stores like Pier One & JC Penny have also made plans to shutter their doors.