Christopher & Banks Corporation may file for bankruptcy, as of December 10, 2020. The company may file for bankruptcy if it fails to get the required financing. Various alternatives are being evaluated to improve the company’s liquidity and financial position, including but not limited to, further lease concessions and deferrals, further reductions of operating and capital expenditures, raising additional capital including seeking a refinancing of the company's debt, sale of the company or its assets and restructuring its debt and liabilities through a private restructuring or a restructuring under the protection of applicable bankruptcy laws. The company has engaged strategic advisors including B. Riley Securities Inc. to assist with management's evaluation and pursuit of available strategic alternatives.