Charlotte Russe Liquidating and Closing All Stores
Posted on March 7, 2019
Women's clothing retailer Charlotte Russe is liquidating and closing down all of its stores. The Charlotte Russe website has already been closed. Going out of business sales started today, March 7.
Charlotte Russe announced early last month that it had filed for Chapter 11 bankruptcy protection. At that time it planned to close 94 of its 500+ stores but hoped to be able to remain in business. The retailer will now close all of its stores over the next couple months. Most of the stores are located in malls and strip malls.
SB360 Capital Partners will handle the final going out of business sales for Charlotte Russe. SB360 says gift cards will be accepted through March 21. All stores will be closed by April 30, 2019.
Going Out of Business Sales start immediately in all stores across 44 states and Puerto Rico. Merchandise currently in the stores plus additional product from the distribution center and product originally designated to support the ecommerce platform, will be sold at discounted prices. The entire store will be on sale with deep discounts off the lowest ticketed prices. Tops, bottoms, jeans, jackets, dresses, shoes, and accessories are highly desirable categories for the brand’s customers, and the Going Out of Business Sale is expected to wrap up quickly. Gift cards can be redeemed until March 21, 2019.Ziggy Schaffer, Executive Vice President of SB360, says in a statement, "For the loyal Charlotte Russe shopper as well as all young women across the country, these deals are not to be missed. On-trend fashion offered at liquidation discounts off already affordable prices will sell incredibly fast."
Charlotte Russe was founed in 1975. It reached its peak sales volume in 2016 according to SB360, when it generated $986 million in sales. Charlotte Russe also had a children's division called Peek Kids.