SteinMart Files for Bankruptcy.

J-Man
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SteinMart Files for Bankruptcy.

Post by J-Man »


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Re: SteinMart Files for Bankruptcy.

Post by klkla »

It's sad but they have not been relevant in a long time.

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Re: SteinMart Files for Bankruptcy.

Post by storewanderer »

For some reason the Reno Stein Mart seems like it has done fairly well in recent years. It didn't seem to do any business the first decade or so it was open (it sits in an old Ross, which was fully gutted and renovated, opened around 1997).

Last year or the year before, they did some work to the store including new dark/black-gray carpeting, repainting the walls, renovating the restrooms, adding in some new fixtures, etc. It definitely spiffed the place up a bit as the previous appearance with what was probably an elegant looking green carpet in the 90's and basically white walls was very spartan.

I used to buy things there from time to time but the past couple years their men's department is very very limited in what it has. It has been so limited and so understocked that I have not found anything. The women's clothing area seems to be much better stocked and takes up at least half of the store's total floor space.

For years this chain has not done well with men's product. When the store first opened it did not have any men's shoes. Then it started to offer a very limited assortment of men's shoes. Tons of women's shoes.

I also don't think they handle any children's clothing, at least in Reno. Odd merchandising decision there.

This chain limped along for years and was always able to pull through. I expected them to go under back in 2008. I find it interesting about six weeks after pretty much everywhere reopening that at this time they cannot make it any longer. I would have expected them to go bust during the closures or back in June. It is interesting they made it this long...

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Re: SteinMart Files for Bankruptcy.

Post by storewanderer »

Sounds like liquidation sales already started today... the same day as the bankruptcy was announced?

I don't think I've ever seen it happen that fast before. Must have really been out of money. Don't you usually need court approval to start a liquidation sale?

https://www.jaxdailyrecord.com/article/ ... t-decision

https://www.jaxdailyrecord.com/article/ ... bankruptcy

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Re: SteinMart Files for Bankruptcy.

Post by pseudo3d »

I've never set foot in a Stein Mart, in part because they seemed like a weird clothing store that would only appeal to older women. My local Stein Mart was in a dated shopping center with a Kroger, Harbor Freight, and King Dollar...not exactly the place to go new clothes shopping. The malls they were in were all DeadMalls.com candidates, even 13 years ago, and they were absent in the usual power centers being built in the last 15 years.

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Re: SteinMart Files for Bankruptcy.

Post by veteran+ »

I tried to shop this store from time to time at several locations in 3 States...........

Not good...........

Men's clothing was a joke as far as selection, sizes and style.

Home decor? I think not regarding style and price.

Customer service was weird.........can't put my finger on it.

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Re: SteinMart Files for Bankruptcy.

Post by buckguy »

I thought they went out of business a long time ago and they certainly have had problems in the past. They seemed to have started with an off-price model and then broadened the merchandise, which meant they had more and varied competitors. The last time I was in one of their stores, it was a real WTF experience because it wasn't clear who they were or what they did well.

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Re: SteinMart Files for Bankruptcy.

Post by storewanderer »

They seemed to try to procure boutique type items and sell them at discount prices. The target customer seemed to be a 55-75 year old female. I have no idea who they were trying to target in the men's department. Maybe a 55-75 year old man who needs clothing to go play golf as they sure had a lot of polo shirts. I did buy some items there from time to time, like socks or belts or slacks. Once or twice I probably found a t-shirt. The Reno location got noticeably busier when the Gottschalks Store went out of business.

Home department changed a lot over the years. At one point they had an area that looked kind of like a Tuesday Morning with very random items, light furniture like chairs, some pet items, etc. That seemed to go away again for a more standard bed/bath type mix. Never bought anything from their home department.

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Re: SteinMart Files for Bankruptcy.

Post by pseudo3d »

Looks like the chain is going fully kaput, with all stores closing. Here's the list:

https://archive.is/qduKD

Really odd territory, going as far west as California but with one store in Utah and New Mexico, stretching all the way to New York state and neglecting WV entirely, and a number of areas where there was only one in the entire metropolitan area.

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Re: SteinMart Files for Bankruptcy.

Post by storewanderer »

pseudo3d wrote: August 14th, 2020, 5:58 pm Looks like the chain is going fully kaput, with all stores closing. Here's the list:

https://archive.is/qduKD

Really odd territory, going as far west as California but with one store in Utah and New Mexico, stretching all the way to New York state and neglecting WV entirely, and a number of areas where there was only one in the entire metropolitan area.
You have to understand the customer they were catering to. An extremely conservative dressing 55-75 year old, looking for "boutique" type clothing, at a discount price. Their stores felt like a department store (carpet and hard tile floors, and varied lighting), not an off price like a Ross or TJ Maxx. There is just not demand for this kind of store in a lot of regions. I am actually surprised they had as many stores as they did in California but they carved out a little niche there in some spots. One store in UT and NM sounds about right. And left OR/WA alone probably due to Nordstrom.

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