The Stein Mart bankruptcy: Its stores liquidated, the headquarters is next

Stein Mart Inc.’s stores are closed but the liquidation sale continues at its Downtown Southbank headquarters.

Furniture, artwork, holiday decorations, boxes of office supplies, dining room accessories, books and knickknacks are among the items on the six floors the bankrupt Jacksonville-based Stein Mart occupied.

Hilco Merchant Services, the Northbrook, Illinois-based liquidator hired to sell off Stein Mart’s inventory, is running the sale at the 1200 Riverplace Blvd. corporate offices.

The Stein Mart “Corp Office Furniture & Fixture Liquidation Sale” is open by appointment only by calling Ron May at (267) 879-7559.

Hilco representative Vince Trevino said Oct. 27 that he arrived Sept. 1 to start the sales at the 279 stores in 30 states and the team is handling the HQ liquidation. 

Trevino is the furniture, fixtures and equipment operations project lead.

May, the furniture, fixtures and equipment supervisor, will be on-site until Nov. 23.

Stein Mart filed for Chapter 11 bankruptcy protection Aug. 12 in the U.S. District Court Middle District of Florida Jacksonville Division.

A court filing projected liquidation of Stein Mart assets could bring in proceeds of about $250 million, which would be enough to pay off secured creditors but no other creditors. 

The stores closed as of Monday, the three distribution centers in Georgia, Texas and California are emptied and Hilco is at the executive offices.

Sale hours are 8 a.m.-5 p.m. Monday-Saturday and 11 a.m.-5 p.m. Sunday.

The public is welcome, although children are not allowed.

Payment is by credit or debit card, and large purchases might require a wire transfer.

Buyers must take their purchases or arrange to pick them up. Trevino said buyers are responsible for tools, equipment and labor. Electrical and plumbing disconnects will require a licensed tradesperson to remove.

Some Stein Mart executives remain at work, but will be leaving in November.

May expects to be on-site through Nov. 23.

Stein Mart associates still at the office hung “Workspace Still In Use” signs by their desks.

Stein Mart occupied about 109,000 square feet, more than half of the 10-story building. It signed the original lease at the building in 1998 and occupied the space beginning in 1999. 

Before the pandemic, Stein Mart had 375 employees in its corporate office.

On Oct. 27, a tour of the top floor executive offices and one of the office floors found desks, tables, chairs, art, mirrors, lamps, napkins, cubicles, training-room tables, framed posters, snow globes and a footstool, among other items.

Trevino said a call center bought a lot of cubicles and chairs.

Former President MaryAnne Morin’s office furniture, a lighter tone than the darker woods elsewhere, was tagged for sale.

Also seen were big boxes of staplers, calculators, rubber bands, paper clips and other office supplies at $25 a container, depending on the contents.

Core fixtures are priced, and Hilco will quote for items not marked.

Among those marked were desks for $50 and higher.

The HQ office’s holiday decorations covered the boardroom table, and the whole lot of it could be had for $200.

The table itself is tagged $3,000.

The executive dining room outside longtime Chairman Jay Stein’s corner office featured napkins, glasses, coasters and other tabletop items.

The refrigerator has been sold.

Stein retired as CEO in March 2016 and relocated to California.

Stein’s office was the only noticeably vacant large office. Trevino said it was empty before Hilco took over. 

The chairman’s former office overlooks the St. Johns River, bridges and much of Downtown.

“Nothing left but the view,” Trevino said.