SteinMart Files for Bankruptcy.

wnetmacman
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Re: SteinMart Files for Bankruptcy.

Post by wnetmacman »

architect wrote: August 21st, 2020, 6:06 pm After further investigation, the store was most likely Weingarten's out of Houston. I know for sure that the Wards Drugs was in the space at the far north end of the shopping center, and that the present Stein Mart space started out as a grocer.

Tom Thumb did make an entry into East Texas in the 1980's with a single store each in both Tyler and Longview. Both stores were sold to Albertsons in the 1990's. The Longview store closed fairly quickly, while the Tyler store held out until 2011 with little renovation. It is now a Walmart Neighborhood Market.
Actually, the two Tom Thumb stores were sold to Albertsons in the mid 80's. Longview lasted until 2008; Tyler to 2011. Both marked the first stores for the chain in both cities; Tyler would get a new store built on the other side of town in the 90's which was sold to Brookshire; Longview took over the Skaggs when ASC sold the Dallas division (which had been branded Jewel in 1991). Only the Longview Skaggs that became Albertsons is still Albertsons.

The Tyler store was indeed Weingarten.

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Re: SteinMart Files for Bankruptcy.

Post by wnetmacman »

Stein Mart has never seemed to me a stable retailer. Their product mix for men was very carefully styled to the 'southern gentleman', and wasn't all that great. Additionally, it was always hard to tell if they were a closeout retailer or a department store. Pricing was all over the place, and just not consistent. I'm more surprised the lasted this long.

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Re: SteinMart Files for Bankruptcy.

Post by storewanderer »

Reno Stein Mart is on "last 9 days" for its liquidation. About 85% of the sales floor is empty now and it is emptying fast. Most of the product left in the store is stuff brought in by the liquidators, not Stein Mart product. Not sure if they sold off all the Stein Mart stuff to individual customers or did some other inventory sell offs because this store was still close to 75% full a couple weeks ago.

The fixture sales are interesting. Beyond the usual boring metal rack fixtures you would expect, they had some pretty nice light wood shelf square and rectangular type newer fixtures for their home merchandise. I was impressed with the condition of the fixtures (maybe it should not be much of a surprise given the folks who shopped here were primarily older, appeared to be solidly middle-upper middle class, usually shopped alone, and you never saw families or kids in this place). This was a low traffic and very "light ware" store. Fixtures were all clean and in good shape; no dust, etc. On the supply side, there was a lot. They had big containers of foaming soap (52 oz for $2) from the restroom dispensers, they had a bunch of containers of Purell (actual Purell) for $1, tons of office chairs, storage cabinets, boxes of kleenex, boxes of gloves, selling a lot of Stein Mart branded boxes and envelopes, just overall a surprising amount of supplies for a store of this nature.

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Re: SteinMart Files for Bankruptcy.

Post by BillyGr »

storewanderer wrote: October 15th, 2020, 11:16 pm The fixture sales are interesting. Beyond the usual boring metal rack fixtures you would expect, they had some pretty nice light wood shelf square and rectangular type newer fixtures for their home merchandise. I was impressed with the condition of the fixtures (maybe it should not be much of a surprise given the folks who shopped here were primarily older, appeared to be solidly middle-upper middle class, usually shopped alone, and you never saw families or kids in this place). This was a low traffic and very "light ware" store. Fixtures were all clean and in good shape; no dust, etc. On the supply side, there was a lot. They had big containers of foaming soap (52 oz for $2) from the restroom dispensers, they had a bunch of containers of Purell (actual Purell) for $1, tons of office chairs, storage cabinets, boxes of kleenex, boxes of gloves, selling a lot of Stein Mart branded boxes and envelopes, just overall a surprising amount of supplies for a store of this nature.
Perhaps they just chose a store (or a few stores in different areas) to get extra supplies of stuff like that they had already on hand in warehousing somewhere?
Or perhaps they had some sort of offices (beyond those in a store) in that area to clear out (would also explain lots of furniture and office type supplies)?

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Re: SteinMart Files for Bankruptcy.

Post by storewanderer »

It appears Stein Mart is finished either tomorrow or Sunday chainwide. I'm not sure if a few random stores will stay open longer but most stores will be done tomorrow or Sunday.

The store in my area is quite empty of clothing but still has a lot of fixtures 75% off the rather arbitrarily determined fixture pricing. Many of the nicer fixtures (light wood rectangular type tables in assorted sizes used to display purses, home decor, gift type items, etc). sold but still a ton of ugly silver metal clothing racks left as well as a lot of nice waist-height wall mounted shoe displays left. The fixtures in this store were in really good condition. Was hoping to get a Stein Mart shopping basket but no luck, sold already.

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