Wilmington’s Stein Mart among those closing due to COVID-19
WILMINGTON, NC (StarNews) — Signs announcing a store-wide closing sale are now posted in Wilmington’s Stein Mart at 3501 Oleander Drive in Hanover Center. The closure comes as a result of the Florida-based retail chain filing for bankruptcy Aug. 12.
An announcement from the company said that the business would close its 281 stores due to declining sales amid the ongoing COVID-19 pandemic.
Stein Mart CEO Hunt Hawkins said that, coupled with a difficult retail environment, posed significant financial distress on the department store.
“We and our advisers determined that we will wind down the business,” Hawkins said. “Please know that this was an extremely difficult decision, and is deeply disappointing for all of us at Stein Mart.”
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