COVID closed Christopher & Banks — 449 stores liquidated, 65 years of business wiped out

Christopher & Banks began in 1956 as Braun's Fashions, a family-owned women's apparel chain serving small towns across America. It went public in 1992 and grew to nearly 450 stores by 2020, specializing in value-priced casual clothing, basics, wear-to-work, leisurewear, and seasonal sleepwear. Its core customer was the small-town woman — the chain located in markets typically under 75,000 people where mall traffic was the primary retail channel. Three-quarters of its sales came from physical stores.

When COVID-19 hit in spring 2020, Christopher & Banks temporarily closed all its stores. The company furloughed staff, cut executive pay, stopped paying rent, and received a $10 million PPP loan. But its customers — older women in smaller markets — did not return to stores even after they reopened. Third-quarter sales fell 22.6%, and the holiday season brought no improvement. CEO Keri Jones said customers had 'limited demand for new outfits in the absence of social engagements.' The chain defaulted on its loans and headquarters lease and faced eviction from some stores.

On January 14, 2021, Christopher & Banks filed for Chapter 11 with plans to close all of its roughly 449 stores. Hilco Merchant Resources was hired to run liquidation sales. A Hilco affiliate also emerged as the stalking horse bidder for the company's e-commerce business. After six and a half decades serving communities that national retailers ignored, the chain was wiped out in a single year.