Christopher & Banks CEO resigns amid new owner

The chief executive of Christopher & Banks has resigned.

The women’s apparel retailer revealed in a securities filing that Keri Jones would step down as president, CEO and board member,  effective March 12. Her resignation comes after Christopher & Banks, which filed for bankruptcy protection in January and subsequently liquidated nearly all of its 449 stores, sold its assets, including its e-commerce business, to ALCC, an affiliate of Hilco Merchant Resources for $24.6 million.

Hilco has entered into a partnership with iMedia Brands to operate and grow the Christopher & Banks business throughout all sales channels, including digital, television, catalog and brick-and-mortar retail. The company will launch a weekly Christopher & Banks television program on ShopHQ, its nationally distributed television network, which will also promote the brand’s website and its two remaining stores, which are located in Coon Rapids, Minn., and Branson, Mo.

In addition, iMedia plans to launch Christopher & Banks Stylists, an online interactive video platform that will offer customized wardrobe outfitting by a Christopher & Banks’ stylist.

“We know the Christopher & Banks fashions and customer demographics well because they are the same as our ShopHQ fashions and customer demographics,” said Tim Peterman, CEO of iMedia Brands. “We also know this iconic brand has maintained a passionate customer base for over 75 years. This is a big opportunity, and we are excited to get started.”