The Stein Mart discount clothing store in Tuscaloosa will permanently close along with all the retailer's other locations after the company declared bankruptcy earlier this week.

In a Wednesday press release, Stein Mart, Inc. said that as part of its Chapter 11 bankruptcy, it expects to close "a significant portion, if not all, of its brick-and-mortar stores."

The company pins its financial woes on "the combined effects of a challenging retail environment coupled with the impact of the Coronavirus (COVID-19) pandemic."

In a follow-up release Thursday, Hilco Merchant Resources, LLC announced the company will choose the latter option and close all of its 279 locations, obviously including the store here in the Druid City.

The business, founded in 1908, employs more than 9,000 people nationwide.

Liquidation sales are already underway at the Tuscaloosa store, which is an anchor of McFarland Plaza off Hargrove Road and McFarland Boulevard. Everything in the store is discounted 10-30 percent off its lowest ticketed price. In a press release, the company said Stein Mart gift cards and loyalty rewards will be accepted for a limited time.

Everything will be sold, including store fixtures, furniture and equipment, and all at discounted prices.

Stay tuned to the Tuscaloosa Thread for more information on the local store's closure as it becomes available.

Enter your number to get our free mobile app