After buying the intellectual property rights in bankruptcy court, Retail Ecommerce Ventures said it will relaunch Stein Mart as an online-only store early next year.
Stein Mart Inc., the Jacksonville-based fashion retailer, filed for Chapter 11 bankruptcy Aug. 12 and closed down its operations, including 281 stores.
WJCT News partner the Jacksonville Daily Record reports Miami-based Retail Ecommerce Ventures, or REV, is a company formed last year that is acquiring the rights to defunct retail brands and relaunching them online.
A subsidiary of REV called Stein Mart Online Inc. submitted a winning bid of $6.02 million for Stein Mart’s intellectual property in U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division.
Read the rest of this story at JaxDailyRecord.com.