Pottstown Mall Women’s Clothing Store Closing
POTTSTOWN PA – The Christopher & Banks women’s clothing store in Coventry Mall, 351 W. Schuylkill Rd. Unit H2, along with many of the chain’s more than 400 other stores nationwide, will close as a part of Chapter 11 proceedings filed Wednesday (Jan. 13, 2021), according to Hilco Merchant Resources LLC, a company authorized to conduct its closing sales.
Christopher and Banks will undergo reorganization “a result of ‘financial distress resulting from the pandemic and its ongoing impact’,” CNN reported. Chapter 11 bankruptcy allows a company to re-organize its business affairs, debts, and assets, and gain time to restructure debts. Chapter 11 companies can emerge leaner but stronger, and do business after re-organization.
The closings affect about 30 stores in Pennsylvania, almost all of them at malls and shopping centers. Locations in Wyomissing, outside Reading, Allentown, Bethlehem, and Lancaster also will close, Hilco indicated in a lengthy list.
“The closing stores feature an assortment of merchandise at very significant price reductions,” Hilco claimed. “Customers will save on their favorite apparel for work, play and special occasions”, it added, offering “40 to 60 percent off original prices on all merchandise.” Store fixtures are also being sold.