Chapter 11 – Jacksonville Bankruptcy Lawyer Blog https://www.jacksonvillebankruptcylawyerblog.com Published by Jacksonville, Florida Bankruptcy Attorneys — Law Office of David M. Goldman PLLC Mon, 31 Aug 2020 21:39:03 +0000 en-US hourly 1 90915732 How Will Stein Mart’s Bankruptcy Filing Affect its Customers, Employees and the Community? https://www.jacksonvillebankruptcylawyerblog.com/how-will-stein-marts-bankruptcy-filing-affect-its-customers-employees-and-the-community/ Mon, 31 Aug 2020 21:39:03 +0000 https://www.jacksonvillebankruptcylawyerblog.com/?p=1388 Jacksonville-based discount retailer Stein Mart filed bankruptcy about 10 days ago.  The company is another victim of COVID-19 and the widespread economic slowdown that the virus has caused. Millions of Americans are still unemployed or earning reduced wages. That means that they are not shopping as much as they were before the pandemic–in person or online.

People often wonder what happens when a store files bankruptcy and shuts down its retail outlets. Store closings and corporate bankruptcy filings affect many kinds of people in the local community: employees and customers and landlords.

Stein Mart started by laying off 100s of employees in its corporate headquarters on the Southbank of the St. Johns River in Jacksonville.  It also furloughed over 8,00 employees in its retail stores and in its supply chain. These former employees can file for unemployment benefits as soon as they are laid off.

Continue reading →
]]> 1388