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Charlotte Russe files for bankruptcy, will close stores

Feb 05, 2019 - USA Today

Fashion retailer Charlotte Russe filed for Chapter 11 bankruptcy protection with plans to close about 94 stores and seek a sale.

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 competitio...