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All Charlotte Russe stores closing, 'Going Out Of Business' sale happening now at all locations

Posted: 4:50 AM, Mar 07, 2019
Updated: 2019-03-07 13:52:50Z
All Charlotte Russe stores closing, 'Going Out Of Business' sale happening now at all locations

Just a month after filing Chapter 11 bankruptcy protection, retailer Charlotte Russe has announced they will close all stores and the company has officially closed its online store as well.

"Our online store has closed, going out of business, sale starts March 7, all stores, all sales final," a message on the company's website said.

The going out of business sale starts March 7 at all Charlotte Russe locations. According to its store locator, the company operates more than 650 stores in the US.

In February, the company announced their plans to close nearly 100 of their stores. The stores are located primarily in malls and outlet centers.

Since the Feb. 3 announcement that the company was filing for Chapter 11, the company has been in talks with prospective buyers to avoid a liquidation of all of the company's assets.

It appears a deal has not been made for a buyer to take over the company's assets at this time, so a liquidation sale is underway.

"In the event that a going-concern transaction is not selected as the highest or otherwise best bid following the conclusion of the auction, the Company will facilitate an orderly wind-down of all of its store locations and operations beginning on or about March 7, 2019," the company said in a press release on Feb. 19.