AM I NEXT? NO LOVE AT CHRISTOPHER & BANKS

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 GODIVA CHOCOLATIER

New York City, New York-based Godiva Chocolatier, a candymaker specializing in gourmet Belgian chocolates, truffles, cocoa & other sweet gift items, has announced the closure of all U.S. stores. The number of employee layoffs is unknown at this time.

The decision was driven by the economic impact of the global pandemic and the growing trend of consumers willing to purchase luxury or perishible products online.

A company spokesman noted, "In response to these market dynamics, Godiva will exit its 128 brick & mortar locations in North America, partially through sales and partially through closures, by the end of the first quarter in 2021.

According to Godiva CEO Nurtac Afridi, "The decision was difficult because of the care we have for our dedicated and hard-working chocolatiers who will be impacted."

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 SIMPLE BANK

Portland, Oregon-based Simple, an online technology-based bank specializing in free FDIC-insured checking account with built-in budgeting tools, is shutting down. The shut-down will impact all of the bank's current headcount, estimated to be 220 employees.

According to a notice on Simple's website, "Simple will be closing and it's been an honor to serve you. Thanks to all the customers who have been part of our journey. Simple account servicing will transition to BBVA USA later this year. Customers can still use their accounts as usual for now."

The shut-down is a consequence of the sale of their parent organization Birmingham, Alabama BBVA who is selling its U.S. business to PNC Financial Services Group for $11.6 billion.

A BBVA spokesperson noted, “We’re focused on the things that make the most sense for the company’s future whether on a standalone basis or a potentially combined basis with PNC." BBVA is also shutting down two other financial technology services it owns, Azlo and Open Platform.

Portland-based Azlo is similar to Simple, offering free checking accounts, and will likewise layoff all of their 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?