Women’s Clothing Retailer Charlotte Russe to Close Remaining Stores

Charlotte Russe

Charlotte Russe filed for Chapter 11 bankruptcy protection a month ago, but now the women's clothing store will shut down all of its stores, this according to their website and a spokesperson for the company. 

El Paso has two Charlotte Russe stores, one located in the Fountains at Farah, another at the Outlet Shoppes at El Paso. 

Tonight, the Charlotte Russe website posted "Going out of business...All stores." on their home page. The website also states that the going out of business sales would start on Thursday, March 7. 

In February, the company had announced plans to close 94 of its more than 500 stores. 

In a statement, the company said it's still in negotiations to sell its intellectual property. 

“We are partnering with the buyer and remain in talks to sell the IP, 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,” the statement said.

Charlotte Russe announced in early February that it was closing 94 stores.

The San Diego-based mall chain filed for Chapter 11 bankruptcy protection in early February and outlined plans to close 94 stores. The chain also put itself up for sale and said if it didn't find a buyer it would liquidate.

The company, which also controls Peek children's clothing stores, caters its items toward women's fashion and has more than 500 stores in 49 states and Puerto Rico. In its filing, the company said it had received a bankruptcy financing package worth up to $50 million to help it continue operating. 

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 competition.

According to USA TODAY, the company has more than 8,700 employees.

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