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

북한, 이번주 전국에 폭우경보 발령

서울, 6월 27일(연합) — 북한 기상청이 이번 주 월요일 전국 대부분 지역에…

급격한 변화가 없다면 2040년대 한국 경제가 위축되기 시작할 것이라는 연구 결과가 나왔다.

5월 7일 서울 광화문광장 앞에서 시민들이 걷고 있다. 연합 저출산과 정체된 생산성이…

감옥에 갇힌 삼성 회장 석방

서울 강남에 있는 한국 회사 사무실 중 한 곳에 삼성 로고가 있습니다.…

한국, 20대의 철도 기관차 운영에 자금 지원

방글라데시 철도는 오늘(2022년 4월 27일) 다카의 카말라푸르 기차역에서 30m 및 16게이지 기관차를…