Charlotte Russe joins the long list of mall staples that are being run out by e-commerce businesses. The company announced on March 7 that it will begin liquidating all of its stores, even shutting down its online platform.
"We are partnering with SB360 Capital to liquidate the remaining inventory in a manner which maximizes the return to our creditors," the retailer said in a statement to USA Today. "In addition, we remain in ongoing negotiations to sell the [intellectual property] to a buyer who has expressed interest in a continued brick and mortar presence."
The teen fashion retailer began liquidating all its stores immediately after its announcement, with all stores expected to be closed by April 30.
Charlotte Russe filed for Chapter 11 bankruptcy protection in early February, outlining plans to close 94 stores. The retailer also put itself up for sale, saying that it would liquidate if it couldn't find a buyer, USA Today reports.
The company has more than 8,700 employees.