“Ultimately, due to the combination of a challenging retail environment and the impact of COVID-19, we and our advisors determined that we will wind down the business,” the company stated.
Stein Mart’s corporate website homepage indicates sales of up to 40% off. Earlier this week it stated mark downs of up to 30%.
The retailer has been located at Town & Country since 1992, according to Casto, the company that co-owns and manages Town & Country.
Stein Mart has featured fashion apparel and accessories from brands such as Anne Klein, Lucky Brand, Nine West, Alan Flusser and Chaps.
The discount department-store chain also offers home décor, bedding and furniture.
A former Stein Mart location in Centerville, which opened in 2003, closed in 2012. The company’s other 10 Ohio stores include three sites in the Cincinnati area and two in the Columbus area, according to its website.
Stein Mart began in 1908 as a small department store in Mississippi before eventually expanding to nearly 300 locations across 30 states. Each store has around 30 employees, and the company currently employs more than 8,000 people.