Women’s clothing retailer Christopher & Banks is next in line to check out of the Pittsburgh Mills mall after the corporation announced Jan. 14 that it is filing for bankruptcy amid the covid-19 pandemic.
The company had been facing financial struggles several months before filing for bankruptcy. Christopher & Banks reported in December it had lost $10.8 million in the quarter that ended Oct. 31.
The company filed for Chapter 11 bankruptcy protection, which allows companies to reorganize its finances and move forward with the liquidation process. Christopher & Banks said it “expects to close a significant portion, if not all” of its 449 stores. The company also is talking with potential buyers regarding the sale of its eCommerce platform.
“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,” company CEO Keri Jones said.
Liquidation is being carried out by Illinois-based Hilco Merchant Resources. A Hilco spokesperson said the stores closing “feature an abundant assortment of merchandise at very significant price reductions.”
Nationally, Christopher & Banks discounts are listed at 40% to 60% off original prices.
Christopher & Banks employees at the Pittsburgh Mills said they were unable to comment on the closure, but they are moving through the liquidation process.
Frazer Supervisor Lori Ziencik said this closing is one of many taking place at the Mills. The mall, which opened in 2005, lists 40 tenants on its website.
Previous closures included JCPenney last summer, Shot in the Dark Mini Golf in October and the recent shutdown of American Eagle.
As for the future of the Mills, General Manager Ernest Diaz said he was disappointed about the Christopher & Banks closure, but he looked forward to filling that and other vacancies.
“While we are saddened by the news, we look forward to the opportunity to continue to identify new and different tenants for our mall,” Diaz said.
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