The women’s clothing company said it applied for Chapter 11 on Thursday due to “the financial hardship caused by the epidemic and its continuing impact.” Christopher & Banks, which has about 400 websites in 44 states, said it would shut down a “significant portion” of stores and was in “active discussion” to sell its website.

The bankruptcy warning was raised last year when the company announced that it had appointed an investment banker to refinance its debt and “explore other strategic alternatives”. In May, the company took out a loan of between $ 5 million and $ 10 million from the Payroll Check Protection Program According to CNN Business Database.

Christopher & Banks admitted in the latest earnings release that Covid-19 has particularly disrupted the shopping habits of women who shop in stores that offer more formal wear. The company said they were becoming more pragmatic shoppers, opting for leisure wear over social bonding clothing.

She is definitely not alone. Other retailers pointed to similar reasons in bankruptcy filing last year. Ascena Retail Group, owner of Ann Taylor, Loft and Lane Bryant, said it Business ‘severely disrupted’ Because of the epidemic, hundreds of stores are closed. RTW Retailwinds, owner of New York & Co. , Also Most of its stores have closed.
With the shift towards working from home, Business wear is outdatedThis jeopardizes the future of companies that depend on office clothes. New data from Coresight Research revealed that more than 8,700 stores closed in 2020 and another 1,400 this year alone.
답글 남기기

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

You May Also Like

북한이 전염병 제한 조치를 더욱 완화한다는 신호로 해외에 있는 자국민의 귀국을 허용하고 있습니다.

북한은 지난 일요일 엄격한 코로나바이러스감염증-19(코로나19) 제한조치를 서서히 완화함에 따라 전 세계적으로 전염병이…

SEUSKCC : Peter Underwood와 함께하는“변화하는 세상에서의 기회”

SEUSKCC : Peter Underwood와 함께하는“변화하는 세상에서의 기회” 직접 구독 IRC 컨설팅 그리고…

일본의 G7 하이 와이어 밸런싱 행위

저자: ANU 편집위원회 일본은 기시다 후미오 총리가 5월 19일부터 21일까지 히로시마에서 G7…

미국 주도의 IPEF 회원국 공식 협상 시작

서울, 9월 11일(연합) — 서울 상무부에 따르면 한국과 인도-태평양 경제 프레임워크(Indo-Pacific Economic…