Women’s Clothing Retailer Closing Stores After Declaring Bankruptcy
Like many other businesses, retail has suffered during the coronavirus pandemic. The latest retail chain to take a hit is a popular women's clothing store.
According to Messenger News, the women's clothing retailer Christopher & Banks has filed for Chapter 11 bankruptcy. The apparel chain that caters to women over 40 has two locations in the Corridor. There's a location at Lindale Mall in Cedar Rapids, and another at Coral Ridge Mall in Coralville.
Both the Coralville and Cedar 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 January 11, "the company operated 449 stores in 44 states." A number that will surely decrease, considering that the chain stated in a news release that it "expects to close a significant portion, if not all, of its brick-and-mortar stores.” The report also stated that the company is in discussions with buyers for its online platform.
There's no word yet on when exactly locations will close, but we'll make updates as information becomes available. It's sad to see yet another business fall due to the financial impact of COVID 19.
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