Clothing retailer files for bankruptcy and closes stores
Another brick-and-mortar store, with multiple locations in Indiana, has filed for bankruptcy and is beginning to liquidate.
Women’s clothing retailer Christopher & Banks Inc. is closing all of its 450 stores, including 20 in Indiana.
The announcement comes the same week that Stock + Field filed for bankruptcy protection and began closing its 25 stores, including eight in Indiana.
S+F is typically located in small communities, catering to a rural lifestyle, and sells farm supplies and outdoor gear.
Both chain stores are based in Minnesota.
Christopher & Banks says it continues to sell women’s clothing and accessories through its e-commerce site, but is in talks with potential buyers for the sale of the e-commerce platform and assets.
“Since the onset of the COVID pandemic, we have taken strong action to protect our business while continuing to serve our customers in a healthy and safe environment,” said Keri Jones, President and CEO. “Despite the significant progress we have made in executing our strategic plan, due to the financial difficulties resulting from the pandemic and its continued impact, we have elected to initiate this process and pursue a potential sale of the business in whole or in part to position the business for the future.”
Christopher & Banks has been around since 1956 while Stock + Field, formerly known as Big R, was launched in 1964.