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
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