MINNEAPOLIS– (BUSINESS WIRE) –Christopher & Banks Corporation (OTC: CBKC), a specialty retailer of women’s clothing, today announced that it has filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the court of United States bankruptcies for the District of New Jersey (the “Bankruptcy Court”). The company has filed customary petitions with the bankruptcy court which will authorize, upon approval by the bankruptcy court, the ability of the company to continue its operations in the ordinary course of business, including, among other things, the payment of salaries and wages. uninterrupted employee benefits, payment to vendors and vendors in the normal course of business, and the use of cash collateral. These motions are typical of the Chapter 11 process and the company expects they will be approved shortly after commencing its Chapter 11 action.
Details on the company’s Chapter 11 process and its upcoming strategy are as follows:
The company …
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- According to the source Christopher & Banks Corporation Voluntarily Files Chapter 11 Bankruptcy
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