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In February 2020, Stein Mart entered into a deal to make the company private; its common stock would no longer be listed on any public stock market. The transaction is subject to approval by Stein Mart shareholders and was "expected to close in the first half of calendar year 2020." [10]
In 2020, longstanding tenant Stein Mart closed as the company liquidated. On February 24, 2022, developer Madison Capital was granted approval to rezone the former Sears tract to multi-family. [ 12 ] This paved the way for the anchor building to be demolished for more than 200 apartments.
Stein Mart during liquidation. Stein Mart closed October 26, 2020, following the company's bankruptcy and liquidation. [8] It was announced in June of 2021 that the former Stein Mart space will be split into two parts, with an Ace Hardware occupying on section, and the other half converted to more specialty store fronts. [9]
The off-price department store said it will likely close all of its 281 brick-and-mortar locations.
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The store closed in September 2018. [16] The space was later replaced by offices for the software company Decisions LLC in 2021 [17] On August 12, 2020, Stein Mart announced it would close most, and possibly all, of its brick-and-mortar stores. [18] [19] The Pembroke Mall Stein Mart is on the closure list. [20]
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Also in 1997, Stein Mart added its first central Illinois location to the middle of the mall, [4] while MC Sports moved to Eastland. [5] Over time, many other stores relocated to the larger mall as well, leaving College Hills without most of its major chain stores. [6] In addition, Stein Mart closed in October 2000. [7]