Christopher & Banks
In 1956, Gil Braun first established Braun’s Fashions in Minneapolis. He was fascinated by women and wanted to give them high fashion at cheap prices. The company changed to the CL Banks and expanded to 500 locations. In one quarter the company lost nearly $8.8 million but increased online sales to 11%. Now, the company is cutting back store locations and moving its resourced to e-commerce businesses. By the end of 2020, the plan to close around 30 to 40 stores, but it has been removed from the New York Stock Exchange.
Christopher & Banks
Lucky’s Market
After trying to compete against wholefoods, this organic supermarket is another one that could not even begin to compete. The colorado bred Lucky’s Market was founded in 2003 and owns the slogan “Organic for the 99%,” filed for Chapter 11 bankruptcy and closed 32 of its 39 stores in 10 states. Lucky’s was so popular at a certain time that it took an investment from Kroger, America’s largest supermarket company. Kroger assisted Lucky in growing from 17 to 40 within three years, but at the end of 2020 canceled their partnership.
Lucky’s Market