(WKBN) – Christopher & Banks, a women’s clothing retailer, is filing bankruptcy and planning to close its stores.
The Chapter 11 bankruptcy filing was announced Thursday by the company. The company expects to close a significant portion, if not all of its brick-and-mortar stores and has launched a closing and liquidation process.
Christopher & Banks is in discussions with potential buyers for its eCommerce platform.
“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,” said Keri Jones, president and CEO.
The company has over 400 stores in 44 states. Locally, there are stores in the Shenango Valley Mall in Hermitage, Eastwood Mall in Niles and Southern Park Mall in Boardman.