Charlotte Russe to close all stores, liquidation sales start

Charlotte Russe

Life & Culture Charlotte Russe to close all of its stores Today 12:45 PM Charlotte Russe By Daniel Urie

Payless ShoeSource was able to emerge from bankruptcy, but recently announced it would still close all US stores.

A major women's clothing retailer will be closing all of its stores including its St. Cloud location.

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Charlotte Russe Holdings, Inc. announced on Wednesday that they would be closing all of their stores after filing for chapter 11 bankruptcy in February.

Court documents state the liquidation sales must begin no later than March 7 and end by April. 30. She said about 15 to 20 people work at the store, which she estimated has been at the mall more than 10 years. Other brands, including most recently Family Dollar, have been able to stay afloat, but are paring down locations. That's what happened with USA operations of Toys "R" Us a year ago.

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A bankruptcy court on Wednesday approved the sale of the company's merchandise to the liquidation company. The company has over 8,700 employees who stand to lose their jobs.

Charlotte Russe, which also controls Peek stores, is the latest clothing retailer to suffer a blow from reduced foot traffic in shopping malls and increased competition from online retailers.

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A notice on the retailer's website reads "Going out of business".

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