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Christopher & Banks Approved to Convert Bankruptcy to Chapter 7

April 13, 2021, 8:27 PM

Christopher & Banks Corp.'s bankruptcy will conclude in a Chapter 7 liquidation after a judge approved the retailer’s request to convert the case from Chapter 11.

A Chapter 11 liquidating plan “just wasn’t in the cards,” the company’s lawyer, Michael Sirota of Cole Schotz PC, said at a telephonic hearing Tuesday.

“I understand the frustration of trying to get a case through even if it’s a liquidation plan, but sometimes it just can’t be done,” Judge Andrew B. Altenburg Jr. of the U.S. Bankruptcy Court for the District of New Jersey said. “Debtors run out of money; options run out,”...

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