This Popular Clothing Chain Just Filed For Bankruptcy
The brand says it "expects to close a significant portion, if not all" of its stores.
A beloved clothing store with 449 locations in the U.S. has just filed for bankruptcy. On Jan. 14, Christopher & Banks announced in a statement that it had voluntarily filed for Chapter 11 bankruptcy protection and will be shuttering stores in the near future. Read on to find out which stores are on the chopping block, and for more pandemic casualties, This Beloved Furniture Chain Is Closing All But 1 of Its Stores.
The brand, which operates women’s clothing and accessories stores in 44 states, “expects to close a significant portion, if not all, of its brick-and-mortar stores,” representatives for Christopher & Banks said in its statement.
However, despite plans to eventually close the majority of its stores, Christopher & Banks “will continue to operate its business in the ordinary course in the near term.” The clothing brand announced that it was seeking buyers for its e-commerce arm, expressing hope that it would be able to continue to sell merchandise online, even amidst the closure of its retail locations.
Christopher & Banks’ president and CEO Keri Jones made it clear that the brand’s bankruptcy filing was a direct result of losses incurred due to COVID.
“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,” said Jones, expressing her “deepest gratitude” to the store’s partners, staffers and customers.
Christopher & Banks joins a long list of retailers to go under in recent months. Read on to discover the latest closures near you, and for more on your favorite stores, see which Popular Department Store Is Closing All Its Locations.
Read the original article on Best Life.
On Jan. 10, department store Stock+Field, which has been in business for 55 years, announced that it would be closing all of its brick and mortar locations. While no definitive closure date had been set at the time of the announcement, Stock+Field CEO and chairman Matthew F. Whebbe announced that the store would be selling its remaining merchandise at “massive discounts” in the next few weeks.
"We hope to reopen stores at some point in the future, but for now, please come in, say hello to your favorite employee, and enjoy the ridiculously low prices,” said Whebbe in a statement. And for more store closures near you, This Beloved Home Goods Chain Is Closing More Than 40 Stores.
Loves Furniture, which once operated 34 stores in the U.S., filed for Chapter 11 bankruptcy on Jan. 6. The chain, which had taken over many of the locations left behind when Art Van Furniture filed for bankruptcy in March 2020, announced plans to close all but one of its remaining locations in its bankruptcy filing. The brand’s 13 stores that currently remain open will hold sales to offload their $27 million in combined inventory, according to the Detroit Free Press. And for more retailers shuttering their brick and mortar stores, This Iconic Department Store Is Closing Another 40 Locations.
Macy’s announced in Feb. 2020 that it would shutter 125 of its stores over the next few years. In early 2021, the company revealed that it was adding 37 stores to that list, all of which would close up shop by spring 2021. The affected stores include one Macy’s Furniture Gallery, one Bloomingdale’s, and 35 additional stores in Arizona, California, Connecticut, Florida, Georgia, Hawaii, Idaho, Illinois, Indiana, Maryland, Massachusetts, Missouri, New York, Ohio, Oregon, Tennessee, Texas, Utah, and Washington. And for the latest store closure news delivered straight to your inbox, sign up for our daily newsletter.
Bed Bath & Beyond
You might want to use those precious coupons soon, because Bed Bath & Beyond is closing 40 of its locations in the near future. The beloved home goods chain, which already closed 63 stores in Sept. 2020, announced in early Jan. 2021 which of its stores would be the next to shutter. The next 43 stores on the chopping block, which are spread across 19 states and Puerto Rico, will close their doors by Feb. 2021. And for another iconic brand closing up shop, check out This Beloved Chain Is Closing All of Its Stores.