(KNSI) – Christopher & Banks has announced it is going out of business. The women’s clothing retailer filed for Chapter 11 on Thursday, citing financial fallout due to the coronavirus pandemic.
Chapter 11 allows a company to reorganize itself as a way to keep its business operating and pay its creditors over a period of time.
The Minnesota-based retailer says it will close a “significant portion, if not all of its brick and mortar stores” and has begun the liquidation process. A press release says it will continue to operate in the near term while it seeks out a buyer.
Christopher & Banks has 449 stores in 44 states, including a location in the Crossroads Center Mall.
Also closing this year is the H&M location inside the mall.
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