AM I NEXT? NO LOVE AT CHRISTOPHER & BANKS

Am I Next? Christopher & Banks files bankruptcy.

Plymouth, Minnesota-based Christopher & Banks Corporation,a specialty woman's apparel and accessories, has voluntairly filed a Chapter 11 bankruptcy petition. Immediately targets are 361 workers at the company's headquarters.

Assets for sale include 449 stores in 44 states which includes 315 MPW stores, 76 Outlet stores, 31 Christopher & Banks stores, and 28 stores in its women’s plus size clothing division CJ Banks. Also, the eCommerce platform www.ChristopherandBanks.com.

The decision was driven by the company's inability to attract investment capital or arrange a merger.

Keri Jones, President and CEO, noted, “Since the start of the COVID pandemic, we have taken aggressive steps to protect our business while continuing to serve our customers in a healthy and safe environment. Despite the tremendous advancements we have made in executing our strategic plan, due to the financial distress resulting from the pandemic and its ongoing impact, we elected to initiate this process and pursue a potential sale of the business in whole or in part to position the Company for the future."

"I want to extend my deepest gratitude to our dedicated associates, loyal customers and supportive partners for their commitment to Christopher & Banks throughout these challenging times.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT SABLE PERMIAN RESOURCES

Am I Next? Nobody left at Sable Permian Resources after bankruptcy.

Houston, Texas-based Sable Permian Resources, an independent Permian-based oil and natural gas company, has announced that it will lay off all 180 employees, including executives, as a consequence of its billion-dollar bankruptcy filing. Layoffs will commence in early February, 2021.

“Due to their quickly declining financial liquidity positions and upcoming debt payments, the debtors (Sable and its subsidiaries) were left with no viable option other than to commence these Chapter 11 cases.

It appears that a Court-approved restructuring plan would transfer ownership of the company to its creditors in exchange for debt forgiveness and the new owners have decided they will maintain and exploit the company's assets through a new operator.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT WHITE STALLION ENERGY

Am I Next? White Stallion Energy laid off all employees as it enters Chapter 11 Bankruptcy.

Evansville, Indiana-based White Stallion Energy has announced the layoff of all of their 338 employees, including executives, as a consequence of the Chapter 11 bankruptcy filing.

The financially struggling company owns six coal mines, four in Indiana (Antioch, Billings, Shamrock, and Charger) and two in Illinois (Friendsville and Eagle River) -- all of which are shuttered during the filing period.

The decision was driven by declining revenues resulting from political claims about global warming and its impact on coal-fired power companies. And, more broadly, the economic slowdown created by COVID-19.

According to a company spokesperson, “The company also has been actively and earnestly working to negotiate the terms of the long-term supply contract with one of its major customers and continued in its efforts do so right until this holiday (Thanksgiving) weekend. Although the company believes it could finalize a contract before the company ran out of the operating capital, over the Thanksgiving holiday, it became clear that such a supply contract would not be finalized in a time-frame necessary to avoid the idling of operations and the termination of employees.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?