The 281-door off price retailer filed for Chapter 11 protection in Jacksonville, FL, federal bankruptcy court, and intends to liquidate and close all its stores. The filing lists $500 million to $1 billion in both assets and liabilities. SMRT’s sales have been declining for the past four years, but the coronavirus pandemic is what pushed it over the edge, as all its stores closed in mid-March. While most reopened in May, traffic and revenues remained depressed, and Covid-19 flare-ups in the Southeast, TX, AZ and CA in early summer hurt business even further. A couple of industry companies were on ... Log in to view full article.