Christopher & Banks files bankruptcy, may close all stores

Women’s clothing chain Christopher & Banks Corp. filed for Chapter 11 bankruptcy Wednesday, becoming the latest retailer to succumb to pandemic pressures and an evolving shopping environment.

The publicly traded chain said in a statement that it expects to close “a significant portion, if not all” of its 449 physical stores. Christopher & Banks determined that selling its brick-and-mortar locations “is not viable or achievable under the current circumstances” and will sell off other assets to repay creditors, court papers show. The retailer said it’s already in talks with a potential buyer for its e-commerce business.