Charlotte Russe closing remaining stores and going out of business


Another eight stores in Wisconsin will close.

Now all of Charlotte Russe's 500-plus stores nationwide will shutter, affecting 8,700 employees in 49 states and Puerto Rico.

The going out of business sale starts March 7 at all Charlotte Russe locations.

Last month, the retailer said it would close the 94 stores and find a buyer that would keep the stores open.

A bankruptcy court on Wednesday approved the sale of the company's merchandise to the liquidation company.

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After filing for bankruptcy in early February, the company announced their location at The Mall at Robinson would be the only one in the western Pennsylvania area to close. The company also established Peek Kids in 2016, specializing in children's clothing.

Sears and Gymboree are two of the most recent companies to file bankruptcy.

Founded in 1975 in San Diego, Charlotte Russe was purchased by private equity firm Advent International for $380 million in 2009. That's what happened with USA operations of Toys "R" Us a year ago.

Charlotte Russe expects to sell roughly $160 million worth of clothing, shoes and accessories in going-out-of-business sales over the coming weeks.