Sorry, fast-fashion fans: Clothing chain Charlotte Russe will shut down all of its stores, multiple news outlets reported Wednesday.
Meanwhile, the chain's website said it is "going out of business" and its "online store has closed."
The news comes just over a month after the company filed for Chapter 11 bankruptcy protection and announced it would close 94 locations, USA Today reported.
The retailer, which employs more than 8,700 people, has more than 500 Charlotte Russe stores and 10 Peek Kids stores, according to USA Today and the Wall Street Journal.
Liquidation firm SB360 Capital Partners bought the chain's assets but not its intellectual property. That means "the store's brand could come back in some form in the future," the Wall Street Journal reported.
"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," Charlotte Russe told the news outlets in a statement.
Liquidation sales begin Thursday and will end by April 30, USA Today reported.
About the Author
