Chicago — On Jan. 13, 2021, Christopher & Banks filed for Chapter 11 reorganization and authorized store closing sales to be conducted by Hilco Merchant Resources. The store closing process has begun at more than 400 stores nationally.
Christopher & Banks was founded in 1956. As of February 2020, the retailer had more than 450 locations.
In a statement from Christopher & Banks, Keri Jones, president and CEO, said: “Since the start of the COVID pandemic, we have taken aggressive steps to protect our business while continuing to serve our customers in a healthy and safe environment. Despite the tremendous advancements we have made in executing our strategic plan, due to the financial distress resulting from the pandemic and its ongoing impact, we elected to initiate this process and pursue a potential sale of the business in whole or in part to position the company for the future. I want to extend my deepest gratitude to our dedicated associates, loyal customers and supportive partners for their commitment to Christopher & Banks throughout these challenging times.”
As part of the store closing process, store sales are underway. Christopher & Banks customers will now save 40% to 60% off original prices on all merchandise. Christopher & Banks offers a variety of missy, women’s and petite sizes in its stores.
Store fixtures are also being sold at compelling prices as part of these closing sales.
Christopher & Banks Corporation is a Minneapolis-based specialty retailer featuring exclusively designed privately branded women’s apparel and accessories. As of January 13, 2021, the company operated 449 stores in 44 states consisting of 315 MPW stores, 76 Outlet stores, 31 Christopher & Banks stores, and 28 stores in its women’s plus size clothing division CJ Banks. The company also operates www.ChristopherandBanks.com.
Hilco Merchant Resources provides a wide range of analytical, advisory, asset monetization and capital investment services to help define and execute a retailer’s strategic initiatives. For more information, visit www.hilcomerchantresources.com.
SOURCE: Hilco Merchant Resources, Christopher & Banks