The company that has given Pier 1 Imports, Dressbarn and Modell’s Sporting Goods a second chance at life online is adding another embattled retailer to its empire: Stein Mart.
Miami-based Retail Ecommerce Ventures has emerged as the winner of a bankruptcy court auction for the intellectual property of Stein Mart. The company said Wednesday it will pay $6.02 million for the Stein Mart nameplate, as well as its private-label brands, domain names, social media assets and other customer data.
Jacksonville, Florida-based Stein Mart filed for Chapter 11 bankruptcy protection in August, but ultimately closed all its 281 stores.
Source: CNBC
Omni Talk is the retail blog for retailers, written by retailers. Chris Walton and Anne Mezzenga founded Omni Talk in 2017 and have quickly turned it into one of the fastest growing blogs in retail. 