Women’s clothing retailer closes stores after declaring bankruptcy
Like many other businesses, the retail industry has suffered from the coronavirus pandemic. The latest retail chain to take a hit is a popular women’s clothing store.
According to Messenger News, womenswear retailer Christopher & Banks filed for Chapter 11 bankruptcy. The clothing chain that caters to women over 40 has two branches in the corridor. There is a location at the Lindale Mall in Cedar Rapids and another at the Coral Ridge Mall in Coralville.
The Coralville and the Cedars Rapids stores announced on their Facebook pages that they would be closing. They cited the impact of COVID 19 as the reason for the closures.
Messenger News reports that as of Jan. 11, “the company operated 449 stores in 44 states.” A figure that will surely decrease, given that the channel said in a statement that it “plans to close a significant portion, if not all, of its physical stores. The report also says the company is in talks with buyers for its online platform.
It’s not yet clear when exactly the locations will close, but we’ll be making updates as more information becomes available. It is sad to see yet another business fall due to the financial impact of COVID 19.