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Charlotte Russe Officially Going Out Of Business

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Charlotte Russe Officially Going Out Of Business

Charlotte Russe Officially Going Out Of Business

Sad news for fashionistas who love shopping on a budget; the retail stores that provide trendy clothes for an affordable price is officially going out of business.

As we previously reported, Charlotte Russe filed for bankruptcy back in February and announced they were closing a number of stores. On Wednesday, the women’s clothing retailer posted on its website that its online store had closed. A going out of business sale starts Thursday, March 7 at all its remaining stores.

RELATED: Payless Is Closing All Its 2,100 US Stores

According to the Wall Street Journal, the company was unable to secure a deal that would save the retailer before a deadline set by lenders. In a statement to USA TODAY, the company said,

“We are partnering with the buyer and remain in talks to sell the (intellectual property), are optimistic about the future of the brand, and remain in ongoing negotiations with a buyer who has expressed interest in a continued brick and mortar presence to continue to serve our loyal customers in the future,”

While a judge has approved the sale of Charlotte Russe’s assets to a liquidation company, the company has more than 8,700 employees who will now be without a job.

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RELATED: Sears Files For Chapter 11 Bankruptcy Protection, 142 Stores Set To Close

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