CBKC - Christopher & Banks files for Chapter 11 bankruptcy

Christopher & Banks (CBKC) says it has filed for Chapter 11 bankruptcy in United States bankruptcy court for the district of New Jersey.The Company intends to continue operating its business during the process, including payment of all employee wages and benefits and pay vendors and suppliers.CBKC has filed a number of customary motions seeking Court authorization to continue to support its business operations. It expects to receive Court approval for all of these requests.The Company says it intends to close a significant portion, if not all, of its brick-and-mortar stores and has launched a store closing and liquidation process. The Company, however, will continue to operate its business in the ordinary course in the near term; and is in active discussion with potential buyers for the sale of its eCommerce platform and related assets and expects to file the appropriate motion shortly.

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Christopher & Banks files for Chapter 11 bankruptcy