Christopher & Banks closes clothing stores, including Peoria Spot
PEORIA – Christopher & Banks is closing more than 400 stores nationwide, including locations in Peoria, Peru, Bloomington and Springfield.
After 65 years in business, the Minnesota-based company that focuses on women’s clothing is another retail victim of the pandemic.
Filing for Chapter 11 bankruptcy on Thursday, Keri Jones, chief executive officer of the company, said in a statement, “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 progress we have made in executing our strategic plan, due to the financial distress resulting from the pandemic and its continued impact, we have chosen to initiate this process and pursue a potential sale of the company in whole or in part to position the company for the future. “
Christopher & Banks has 23 stores in Illinois, including one on the upper level of Northwoods Mall. Sales at 40 to 60 percent discounts are to begin immediately, the company said. Shop furniture will also be sold.
Despite the closure of physical stores, Christopher & Banks will continue online sales, which will not be subject to store closure discounts.