Stein Mart — 112 years and 279 stores, wiped out in a single filing

Stein Mart was founded in 1908 by Sam Stein, a Russian Jewish immigrant, in Greenville, Mississippi. It grew into a discount department store chain selling branded apparel, accessories, home decor and shoes — positioned between off-price giants like TJ Maxx and traditional department stores. By 2019 it operated 283 stores across 30 states and employed roughly 8,000 people. For a century, the chain served moderate-income families looking for department-store brands at clearance prices.

The decline was gradual but steady. Stein Mart never adapted to the rise of e-commerce or the relentless expansion of TJ Maxx, Ross and Burlington. Same-store sales had been sliding for years. The company carried $137 million in long-term debt and had been exploring strategic alternatives — including a potential sale — when COVID-19 arrived in early 2020. The pandemic was catastrophic for a chain dependent on in-store traffic and discretionary apparel spending.

Stein Mart filed for Chapter 11 bankruptcy on 12 August 2020. Within days, the company announced it would close all 279 remaining stores. Liquidation sales began immediately, and all stores were closed by the end of October 2020 — ending 112 years of continuous operation. The brand was sold to Retail Ecommerce Ventures (REV) as an online-only operation. In a twist, REV itself considered Chapter 11 in 2023, and the brand was sold again to Omni Retail Enterprises in 2026.