Wednesday, February 6, 2019

Charlotte Russe plans for full chain liquidation if no buyer emerges

Retail Dive
Charlotte Russe Holdings (and its subsidiaries) on Monday said on Feb. 3 it filed for relief under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.

The company intends to shutter 94 of its stores and pursue a going-concern sale of the business and its assets, according to a company press release. Charlotte Russe also said it has received a commitment for debtor-in-possession financing in the maximum amount of $50 million, which awaits court approval.. . . more