LAS VEGAS (KLAS) — Another retailer has fallen victim to the struggling economy amid coronavirus. Stein Mart announced Wednesday that it’s filing for bankruptcy and said it will likely close all of its stores.
The discount department store has three locations in the Las Vegas valley.
The closing dates will vary for the company’s 300 stores but most are expected to closed by the end of the year, according to a Stein Mart news release.
8 News Now spoke with shoppers outside one Valley Stein Mart, and they say they are really sad to hear the news.
“I always come up here to Stein Mart every chance I get, and I really like the store,” said Sandra Plummer. “I like the quality; I like the prices. It’s just something everything is closing up. It’s just … it’s a sad thing.”
Hunt Hawkins, CEO of Stein Mart said “The company lacks sufficient liquidity to continue operating in the ordinary course of business. I would like to thank all of our employees for their dedication and support.”
More than a dozen retailers have announced bankruptcies including Pier 1, Tuesday Morning, JC Penny, Brooks Brothers and Sur La Tab and Lucky Brand.
There’s no word on what this specifically means for each Stein Mart location in the Valley.