By Shwanika Narayan Published 2:07 pm PST, Monday, February 4, 2019 Charlotte Russe, a San Diego apparel company, is the latest retailer to seek bankruptcy protection. It plans to shutter nearly 100 stores, including two in the Bay Area and invest in its online offerings. Charlotte Russe, a San Diego apparel company, is the latest retailer to seek bankruptcy protection. It plans to shutter nearly 100 stores, including two in the Bay Area and invest in its online offerings. Photo: Brooke Crum / The Enterprise 2013 Photo: Brooke Crum / The Enterprise 2013 Image 1 of / 1 Caption Close Image 1 of 1 Charlotte Russe, a San Diego apparel company, is the latest retailer to seek bankruptcy protection. It plans to shutter nearly 100 stores, including two in the Bay Area and invest in its … [Read more...] about California’s Charlotte Russe latest retailer to file for bankruptcy
Nathan Bomey and Kelly Tyko USA TODAY Published 4:30 PM EST Feb 4, 2019 Fashion retailer Charlotte Russe filed for Chapter 11 bankruptcy protection Monday with plans to close about 94 stores — including four in Michigan — and seek a sale. These Michigan stores are scheduled to be closed, according to the filing: Fairlane Town Center, Dearborn Fashion Square Mall, Saginaw Howell Outlets, Howell Meridian Mall, Okemos The San Diego-based mall chain had been teetering on the edge of bankruptcy for some time, having announced a deal to renegotiate certain debts more than a year ago. Sales have plunged in recent years, and the chain plans to completely liquidate if it can't find a buyer by Feb. 17, according to a court filing. The company has more than 8,700 employees. The bankruptcy marks the latest in a series of similar cases among mall retailers that have been unable to identify a sustainable path amid declining foot traffic and intense digital competition. … [Read more...] about Charlotte Russe bankruptcy: Mall fashion chain files for Chapter 11
Feb 04, 3:54 PM EST Newsletter Signup BusinessTechnologyWorldNationalMedia & CultureOpinionSportsLuxury Business By Dawn Geske 02/04/19 AT 3:50 PM Women’s clothing retailer Charlotte Russe has filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the District of Delaware on Monday.The company said it plans to “facilitate an orderly wind-down of a group of approximately 94 of its store locations while continuing to pursue a going-concern sale of the business and assets.”Both Charlotte Russe and Peek stores are currently still open and operating as well as its online presence.With about 94 Charlotte Russe and Peek stores expected to close, the company said it will release information about what stores will be closing and their going-out-of-business sales in the near-term.Charlotte Russ has received a commitment for debtor-in-possession for $50 million but is still looking to pursue the sale of its business. The financing is being … [Read more...] about Charlotte Russe Bankruptcy: Will Stores Be Closing?
Charlotte Russe Holdings Corp., a fashion retailer for women in their teens and 20s, plans to close 96 stores across the country, including at the Mall of America in Bloomington and Burnsville Center in Burnsville. The company said Monday that it filed Chapter 11 bankruptcy to keep its operations afloat. It has received debtor in possession financing of $50 million, which if approved, will support the company and its 462 ongoing stores through the restructuring process. The company's Minnesota at Ridgedale, Eden Prairie Center, Maplewood Mall, Albertville Premium Outlets, St. Cloud and Mankato are not on the closing list. Liquidation sales are expected to start later this week and will last six to eight weeks, according to a company spokeswoman. … [Read more...] about Retailer Charlotte Russe closing 96 stores, including in MOA and Burnsville Center
Charlotte Russe filed for bankruptcy on Monday. The women’s clothing retailer said it planned to close 94 of its roughly 500 stores. Charlotte Russe filed for Chapter 11 bankruptcy protection on Monday and said it planned to close 94 stores while it pursues a sale of its business and assets. The women’s clothing retailer operates about 500 stores, most of which are located in shopping malls. Charlotte Russe, which also operates the children’s brand Peek Kids, said it has received up to $US50 million in debtor-in-possession financing that would help keep the business operating through bankruptcy. Here’s the list of the closing stores. Grossmont Center, 5500 Grossmont Center Dr, La Mesa, CA MainPlace Mall, 2800 N Main St, Santa Ana, CA Westminster Mall, 2150 Westminster Mall, Westminster, CA Pearlridge Center, 98-1005 Moanalua Rd spc 146, Aiea, HI Westfield Meriden Mall, 470 Lewis Ave, Meriden, CT EastView Mall, 470 Lewis Ave, Meriden, CT Arbor … [Read more...] about Charlotte Russe plans to close 94 stores as it files for bankruptcy — here’s the full list