Syracuse, N.Y. — A specialty women’s apparel retailer has filed bankruptcy and will close its more than 400 stores across the U.S., including its location at Destiny USA.
Christopher & Banks Corp. filed for relief under Chapter 11 of U.S. Bankruptcy Code on Jan. 14, saying it planned to close a “significant portion, if not all, of its brick-and-mortar stores.” Since then, it has begun store closing sales at all its 449 stores in 44 states.
The Minneapolis-based retailer caters to women in the 40 to 60 demographic, offering privately branded apparel and accessories. It operates 315 MPW stores, 76 Outlet stores, 31 Christopher & Banks stores and 28 stores in its women’s plus-size clothing division CJ Banks. It also operates the www.ChristopherandBanks.com e-commerce website.
Signs at the Christopher & Banks store in the outlet section of the Destiny USA mall in Syracuse tout 40% to 60% off the lowest ticketed prices in the entire store. The Christopher & Banks store at the Great Northern Mall in Clay closed last year because of water damage and never reopened.
The company said it is in “active discussion” with potential buyers of its e-commerce platform and related assets.
Company President and CEO Keri Jones said “financial distress” caused by the coronavirus pandemic forced the company’s decision to close its stores.
“I want to extend my deepest gratitude to our dedicated associates, loyal customers and supportive partners for their commitment to Christopher & Banks throughout these challenging times,” Jones said.
The closing is the latest blow to the Syracuse area retail scene, especially its two remaining malls.
Destiny USA, the largest mall in New York and sixth largest in the U.S., has seen a string of store closures in recent weeks. Best Buy announced Wednesday that it is closing its store at Destiny.