FILE - This Sept. 19, 2014 file photo shows retail mogul Leslie Wexner, at the Wexner Center for the Arts in Columbus, Ohio. Wexner is severing his last ties with the retail empire that he founded in 1963. L Brands, which operates Victorias Secret and Bath & Body Works, said the 83 year-old billionaire, along with his wife Abigail, won't stand for reelection to the board of directors. (AP Photo/Jay LaPrete, File)NEW YORK – Billionaire retail icon Les Wexner is severing his last ties with the retail empire that he founded in 1963. The company said in February it intended to complete the separation of its Victoria’s Secret and Bath & Body Works businesses by August.

ST. PETERSBURG, Fla. National discount department store chain Stein Mart filed for bankruptcy on Wednesday after 112 years in business, and announced that it will close most, if not all, of its 280 stores. The Company lacks sufficient liquidity to continue operating in the ordinary course of business.Headquartered in Jacksonville, Florida, Stein Mart has more than 280 stores in 30 states specializing in clothing, shoes and housewares at discount prices. Hawkins said Stein Mart will continue to operate normally in the near term, and is evaluating the potential sale of its eCommerce business. Please know that this was an extremely difficult decision, and is deeply disappointing for all of us at Stein Mart," Hawkins said in a written statement. Last year, 23 retailers filed for Chapter 11.