Christopher & Banks Corporation filed a motion in the US Bankruptcy Court for approval of auction procedures to select a liquidation agent on January 14, 2021. The debtor seeks the Court’s approval on an agency agreement to conduct store-closing sales with Hilco Merchant Resources, LLC or a higher bidder. Pursuant to the agency agreement, the entity selected as the highest and best bidder at the auction and approved by the Court would purchase the Inventory for a guaranteed percentage of its net retail value and use its best efforts to sell the furniture, fixtures, and equipment for a commission. The Agent shall pay to Debtors an amount equal to 5% of the gross proceeds.