Christopher & Banks Closing All Stores Including Miller Hill Mall
Women's clothing retailer Christopher & Banks will close its Miller Hill Mall store and over 400 stores nationwide by March.
Christopher & Banks is headquartered in Plymouth, MN and will lay off over 350 people at its main office as it works to close permanently after they filled for Chapter 11 bankruptcy earlier this month.
Christopher & Banks Corp. submitted a WARN letter to the state on Minnesota early in January and in it CEO Kari Jones wrote, "Although the Company has been attempting to attract new investors and financing to maintain its business operations, the Company was unable to obtain the required capital, and the Company’s current cash position is such that the Company has insufficient funds to maintain its business operations.”
Christopher & Banks is like many retailers and having an impossible time surviving the CODID-19 pandemic and will be forced to end business. They do say that they're having active discussions with potential buyers for the sale of its eCommerce platform and related assets.
Founded in 1956 as Braun's Fashions in Minneapolis, they eventually became a publicly traded company in 1992 and renamed to Christopher & Banks in 2000. Also that year they launched a plus-size brand named CJ Banks, which was phased out starting in 2014.
Five Businesses We'd Like To See In The Twin Ports
More From KOOL 101.7
