Stein Mart files for bankruptcy

Stein Mart has filed for bankruptcy.

The discount retailer plans to close most of its nearly 300 locations.

THE DISCOUNT RETAILER PLANS TOCLOSE MOST OF ITS NEARLY -300-LOCATIONS.THE -112-YEAR-OLD COMPANYBLAMED ITS FAILURE ON CHANGINGCONSUMER HABITS AND THEPANDEMIC.STEIN MART IS ALSO CONSIDERINGSTRATEGIC ALTERNATIVES - -INCLUDING THE SALE OF ITSWEBSITE AND ITS INTELLECTUALPROPERTY.IN TERMS OF COVID-19 CASES - -