RTTNews | Jan 14, 2021 06:43AM EST

06:43 Thursday, January 14, 2021 (RTTNews.com) - Minneapolis-based specialty retailer Christopher & Banks Corporation (CBKC) has filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code. The company expects 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 is in active discussion with potential buyers for the sale of its eCommerce platform and related assets.

Keri Jones, CEO, said, "Despite the tremendous advancements we have made in executing our strategic plan, due to the financial distress resulting from the pandemic and its ongoing impact, we elected to initiate this process and pursue a potential sale of the business in whole or in part to position the company for the future."

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