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

Biden의 제재가 인플레이션으로 이어진다면 Nehru는 마침내 웃을 수 있습니다

참고: 이 위젯 The India Cable에 처음 게재됨 – Wire & Galileo…

Ambani와 Adani의 지배는 지속될 수 있습니까? 한국과 일본에서 답을 찾아라

Prajna Ghosh의 그림 | 인쇄 글꼴 크기: NS- + NS최근 미국 브라운…

북한, 도쿄 올림픽에 참가하지 않겠다고 밝혔습니다-NBC10 필라델피아

북한은 코로나 바이러스에 대한 두려움으로 도쿄 올림픽에서 탈퇴 한 첫 번째 국가가되었으며,…

취업 까다로운 한국 청년들은 여전히 ​​일자리가 없다.

2022년 11월 9일 부산 부경대학교 취업박람회에 구직자들이 몰려들고 있다. [SONG BONG-KEUN] 지난해…