Stein Mart, Inc.

After more than a century in business, the national discount department store Stein Mart, Inc. has filed for Chapter 11 protection. The coronavirus continues to provide a debilitating headwind towards the retail sector.

The Jacksonville, Fla.-based company will shutter nearly 300 brick-and-mortar locations across the U.S. before the end of 2020. Their FRISK® score, which is 96% predictive of public company bankruptcy risk, had been at a worst-possible "1" for much of the summer before their petition on Aug. 12:

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Stein Mart, Inc. FRISK® Score

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CreditRiskMonitor® Bankruptcy Case Studies provide post-filing analyses of public company bankruptcies. Our case studies educate subscribers about methods they can apply to assess bankruptcy risk using our proprietary FRISK® score, robust financial database, and timely news alerts.

In nearly every case, a low FRISK® score gave our subscribers early warning of financial distress within a one-year time horizon. Our proprietary FRISK® score predicts bankruptcy risk at public companies with 96% accuracy. The score is formulated by a number of indicators including stock market capitalization and volatility, financial ratios, bond agency ratings from Moody’s, Fitch and DBRS, and crowdsourced behavioral data from a subscriber group that includes 35% of the Fortune 1000 and thousands more worldwide.

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