Retailer Tuesday Morning is closing its stores in San Antonio and conducting going out of business sales. It joins Bed Bath & Beyond in home goods shutdowns
iMedia Brands Acquiring Christopher & Banks Assets TV shopping network to launch weekly C&B show.
Plymouth-based retailer Christopher & Banks Corp. is bankrupt, and its stores are closed, but the brand will live on under the wing of another local company: Eden Prairie-based iMedia Brands Inc.
The $24.6 million sale to ALCC closed yesterday according to a Wednesday SEC filing from Christopher & Banks. Per the filing, ALCC designated iMedia Brands as a buyer designee, which will assume certain assets and liabilities of the Christopher & Banks operation. ALCC retains the intellectual property assets and liabilities.
In a press release Wednesday iMedia Brands announced a “licensing partnership” with ReStore Capital LLC, another Hilco company, under which it will operate the Christopher & Banks business. ReStore Capital LLC defines itself as a “commercial finance and alternative investment firm providing capital solutions to leading retailers and consumer products comp
All Christopher & Banks stores to close, including four in area
Closing 23 stores in Wisconsin
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Women’s clothing retailer
The Plymouth, Minnesota-based company recently
filed for Chapter 11 bankruptcy and has begun liquidation sales at its 449 brick-and-mortar stores across the U.S.
The company will close a total of 23 store locations in Wisconsin. Stores closing in the southeastern part of the state include
Christopher & Banks stores at
Brookfield Square in Brookfield, Germantown Plaza in Germantown and its outlet at Pleasant Prairie Premium Outlets in Pleasant Prairie, in addition to its plus size store CJ Banks, also at Brookfield Square.
Christopher & Banks has been around since 1956. The company’s restructuring and wind-down of its brick-and-mortar operation comes as the COVID-19 pandemic has accelerated the decline of traditional retail and rise of e-commerce.