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. Charlotte Russe has since switched gears and is closing all locations.
A message on the website states that a sale began March 7 at all stores and that all sales are final. Almost 100 locations were affected by the initial Chapter 11 filing in February, including in Niagara Falls, New Hartford, Saratoga Springs and the Eastview Mall near Rochester.
According to court documents, store liquidation sales "shall commence no later than March 7" and end "no later than April 30", USA Today reports.
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Charlotte Russe is going out of business. USA Today reports the company had been facing bankruptcy for more than a year, initially announcing plans to renegotiate certain debts in hopes of a turnaround.
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.
The company has more than 500 stores in the US with more than 8,700 employees.
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