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C+CT

Charlotte Russe closing all stores

March 7, 2019

Fast-fashion women’s apparel chain Charlotte Russe is going out of business and will close its remaining 416 stores.

The chain, which entered Chapter 11 bankruptcy protection last month, will be selling off inventory valued at some $160 million through its stores, after failing to find a buyer. And it will sell its intellectual property and the rights to its leases separately, the company announced Thursday. Also closing down are the company's 11 Peek Kids apparel stores. 

Charlotte Russe operates across 44 states and in Puerto Rico. At its height, the California-based company, which was founded in 1975, operated about 500 stores across 48 states. The company's sales hit a peak of $986 million in 2016.

By Edmund Mander

Director, Editor-In-Chief/SCT