Just one 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.
The retailer's website says "our online store has closed, going out of business, sale starts March 7, all stores, all sales final." The going out of business sale starts Thursday, March 7, 2019 at all Charlotte Russe locations. There are ten Charlotte Russe stores in the Tampa Bay area and five in the Orlando area.
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In February, the company announced their plans to close nearly 100 of their more than 500 stores. The stores are located primarily in malls and outlet centers.
Since the February 3, 2019 announcement that the company was filing for Chapter 11 bankruptcy protection, 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 now 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," according to a press release from February 19, 2019.
