Another clothing chain with a Boise store to close, liquidation sale underway
Women’s clothing retailer Christopher & Banks said it plans to “close a significant portion, if not all, of its brick-and-mortar stores” after declaring bankruptcy on Thursday.
The Plymouth, Minnesota, company, founded in 1956, operates 449 stores in 44 states. It has five stores in Idaho, including one at the Boise Towne Square mall. Other stores are in Twin Falls, Idaho Falls, Chubbuck and Moscow. A previous store in Nampa’s Karcher Mall closed earlier.
Although the company’s website said the Boise store was closed on Thursday, it was open. A woman who answered the phone but didn’t identify herself said the store reopened Thursday after being closed several days.
A window sign didn’t mention liquidation, but it said the store was having an “Everything Must Go Sale.”
Nationwide, Christopher & Banks operates 315 MPW (Missy, Petite, Women) stores, 76 outlet stores, 31 Christopher & Banks stores and 28 C.J. Banks stores.
In a news release, CEO Keri Jones blamed the coronavirus pandemic for stifling sales.
“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,” Jones wrote.
The filing in U.S. Bankruptcy Court in New Jersey came a month after Christopher & Banks announced the hiring of strategic advisers and said it was working to restructure its debt while exploring alternatives.
In June, the company obtained $10 million under the federal Paycheck Protection Program meant to help businesses keep workers employed.
Hilco Merchant Resources announced Thursday that it will handle the liquidation of inventory at all Christopher & Banks stores. It said customers would save 40% to 60% off original prices on all merchandise.
The sale will also include store fixtures.
This story was originally published January 14, 2021 at 4:26 PM.
