Christopher & Banks

Christopher & Banks is an American retail company headquartered in the Minneapolis suburb of Plymouth, Minnesota, that specializes in women's clothing for the age 40-60 demographic.[2] In January 2021, the company has been filed for bankruptcy and is closing all stores due to financial loss from the ongoing the COVID-19 pandemic.

Christopher & Banks
TypePublic
NYSE: CBK
IndustryRetail
Founded1956
FounderGil Braun
Defunct2021
Headquarters
Plymouth, Minnesota
,
United States
Number of locations
451 (February 2020)
Key people
Keri Jones, CEO[1]
ProductsWomen's clothing
DivisionsCJ Banks (Plus Size)
Websitewww.christopherandbanks.com
A Christopher & Banks store at a mall in Oregon

History

The chain was founded in 1956 as Braun's Fashions in Minneapolis. It became a publicly traded company in 1992, and was re-branded as Christopher & Banks in 2000.[3] Also in 2000, the chain founded a second brand, CJ Banks, which is a plus-size clothing store.[4]

In November 2004 Christopher & Banks acquired the Acorn Stores chain and operated it as a third retail concept.[5] Christopher & Banks announced on July 31, 2008, that they intended to close Acorn and followed through with this plan, closing all 36 Acorn stores by the end of the year.[6]

On April 4, 2005, The Company restated its consolidated statements of income for the fiscal years ended March 1, 2003 and February 28, 2004, as well as for interim periods within the fiscal year ended February 26, 2005, to present the amortization of construction allowances as a reduction of rent expense instead of a reduction of depreciation expense.[7]

In 2014, the company began phasing out CJ Banks stores, and combining the plus-size lines into Christopher & Banks stores. In cases where such stores were adjacent, the stores were combined into one larger store.[8]

In January 2021, the company announced that it filed for bankruptcy and would be closing all stores due to financial loss from the ongoing the COVID-19 pandemic.[9]

References
  1. Kumar, Kavita (1 February 2018). "Keri Jones, former Target executive, is named CEO of Christopher & Banks". Star Tribune.
  2. Christopher and Banks Corporation Investor Relations
  3. Moore, Janet (2000-05-25). "Braun's seeks to don new name". The Star-Tribune. Archived from the original on 2012-11-06. Retrieved 2009-02-26.
  4. "Christopher & Banks history". Christopher & Banks. Archived from the original on 2009-03-02. Retrieved 2009-02-26.
  5. "Christopher & Banks Corp. completed its acquisition of Acorn stores from Gilmore Bros". Christopher & Banks. 2004-12-01. Retrieved 2010-09-01.
  6. "Acorn". Christopher & Banks. Archived from the original on 2010-09-09. Retrieved 2010-09-01.
  7. "EXHIBIT 99 - Additional Exhibit CHRISTOPHER & BANKS CORP".
  8. Hammerand, Jim (Oct 2, 2014). "Christopher & Banks continues store closings, openings to bring all sizes under one roof". bizjournals.com. Minneapolis / St. Paul Business Journal. Retrieved 2019-09-29.
  9. Valinsky, Jordan (2021-01-14). "Christopher & Banks is going out of business". CNN.
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