Stein Mart stores were permanently discontinued after the company filed for Chapter 11 bankruptcy in August 2020, leading to liquidation sales and the closure of all 279 physical locations by late 2020, primarily due to the impact of the COVID-19 pandemic and pre-existing retail challenges. The brand's intellectual property was later bought by Retail Ecommerce Ventures, which relaunched Stein Mart as an online-only retailer, though it faced its own potential bankruptcy issues around 2023.

Why the Physical Stores Closed

COVID-19 Pandemic: The pandemic forced temporary store closures, severely impacting liquidity and sales, especially in Sunbelt states where many stores were located.

Pre-Existing Struggles: The company faced financial difficulties and declining stock prices starting in 2017, with layoffs and inventory cuts.

Bankruptcy: After a failed private equity buyout, Stein Mart filed for bankruptcy in August 2020, leading to liquidators announcing the closure of all stores for good.

Aftermath & The Online Era

Liquidation: Going-out-of-business sales offered discounts on merchandise, fixtures, and furniture.

Online Relaunch: In late 2020, Retail Ecommerce Ventures acquired the brand's assets (like its domain name and customer data) to create an online-only store, notes CNN Business.

Future Uncertainty: By March 2023, the new owner was exploring options, including another potential bankruptcy, raising questions about the brand's long-term digital future.