Clothing retailer files for bankruptcy and will close all stores, including 20 in Indiana
INDIANAPOLIS (Inside INdiana Business) — Another brick-and-mortar store, with multiple locations in Indiana, has filed for bankruptcy and is starting to liquidate. Women’s clothing retailer Christopher & Banks Inc. is closing its entire 450 store footprint, including 20 locations in Indiana.
The announcement comes the same week that Stock + Field filed for bankruptcy protection and started going-out-of-business sales at its 25 stores, including eight in Indiana.
S + F is typically located in smaller communities, catering to a rural lifestyle, and sells farm supplies and outdoor gear.
Both retail chains are based in Minnesota.
Christopher & Banks says it is continuing to sell women’s apparel and accessories through its e-commerce site, but it is in discussions with potential buyers for the sale of the eCommerce platform and assets.
“Since the start of the COVID pandemic, we have taken aggressive steps to protect our business while continuing to serve our customers in a healthy and safe environment,” said Keri Jones, president and chief executive officer. “Despite the tremendous advancements we have made in executing our strategic plan, 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.”
Christopher & Banks has been around since 1956 while Stock + Field, which is formerly known as Big R, was started in 1964.