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

인도, 일본, 한국과의 안보 및 경제 협력 강화 모색 – The Diplomat

수브라마니암 자이샨카르 인도 외무장관은 현재 한국(3월 5~6일), 일본(3월 6~8일) 등 동아시아 순방…

일본과 한국의 최근 관계 회복 시도의 이면에는 무엇이 있습니까?

윤 위원장과 기시다 총리는 양국 관계를 재건하려는 최초의 지도자가 결코 아니며, 이전의…

이란 “미국인 석방 후 70억 달러 동결 해제 대기 중”

일요일, 관영 언론은 이란이 이란계 미국인의 출국을 허용하고 아들을 석방한 후 해외에…

검색: 분류절차: 한진국제기간담보대출에 대한 Moody’s Ba2 특화

홍콩, 2022년 9월 19일 – Moody’s Investors Service는 Hanjin International Corporation(HIC, B1…