Christopher & Banks joins the long list of retailers filing for bankruptcy and disappearing from American malls.
The women’s ready-to-wear company filed for Chapter 11 on Thursday, due to “financial distress resulting from the pandemic and its continuing impact,” he said. Christopher & Banks, which has around 400 locations in 44 states, said it would close a “significant portion” of stores and was in “active discussions” to sell its site Web.
Bankruptcy was announced last year when the company announced it had hired an investment banker to refinance its debt and “explore other alternatives. In May, the company took out a loan of between $ 5 million and $ 10 million from the Paycheck Protection Program, according to the CNN Business database.
Christopher & Banks admitted in their latest results release that Covid-19 has particularly disrupted the shopping habits of women who shop in stores offering more formal clothing. They have become more …
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