A company selling fashion clothes Charlotte Russe filed for protection from bankruptcy and plans to close about 94 out of 500 of its stores. Once on the verge of bankruptcy, and sales network with headquarters in San Diego a year ago, announced the deal to revise some of its debt.
— Business Insider MY (@BizInsiderMY) February 4, 2019
Due to the sharp fall of the sales network plans to liquidate stores if you can’t find a buyer for them by February 17.
Charlotte Russe sells women’s clothing in 49 States and Puerto Rico. The company employs more than 8, 7 thousand people.
The chief judge of the restructuring Brian Cashman said that in 2018 the sales of the company fell by 14% to $ 795,5 million Charlotte Russe was not able to restructure its merchandising strategy and marketing under demographic situation in the country to keep pace with rapidly changing fashion trends. Network has failed effectively to change strategy of interaction with customers in the online segment and social networks, as well as to rationalize the costs associated with the operations in stores, to release resources for the development of Internet Commerce.
Interest in the company showed 17 potential buyers, but no one made an offer.
Charlotte Russe hopes to raise its business, shifting the emphasis on the”fast fashion” and improving the customer experience through focusing on online content. The company also plans to reduce corporate expenses.
Here are the addresses of some stores that the company is going to close. For a complete list see here.
Arvin: 5701 Outlets at Tejon Parkway
Culver City 6000 Sepulveda Boulevard
Daly City: Serramonte Center 288
Fairfield: 1350 Travis Boulevard
Irvine: 71 Fortune Drive
La Mesa: 5500 Grossmont Center
San Bernardino: 500 Inland Center Drive
San Jose: 925 Blossom Hill Road
Santa Ana: Main Place 2800 North
Valencia: 24201 West Valencia Boulevard
Westminster: Westminster Mall 2150 E
Jacksonville: 4870 Big Island Drive
Port Richey: 9409 US Highway 19
Sarasota: 140 University Town Center Drive
West Palm Beach: 1721 Palm Beach Lakes Boulevard
Atlantic City: 122 Christopher Columbus Boulevard
East Brunswick: 755 State Road 18
Moorestown: 400 Route 38
Glendale: 8000 Copper Ave.
Massapequa: 2135 Sunrise Mall
Nanuet: 66 Rockland Plaza Route 59
New Hartford: Route 5 & 5A
New York: 130 W. 34th Street
Niagara Falls: 1982 Military Road
Saratoga Springs 3065 Route 50
Victor: 672 EastView Mall
Yorktown Heights: 650 Lee Boulevard
Florence: 2701 David McLeod Boulevard
Myrtle Beach 2000 Coastal Grand Circle
North Charleston: 2150 Northwoods Boulevard
Cedar Hill 305 West FM
Fort Worth: 15853 N. Freeway
New Braunfels: 257 Creekside Crossing
Victoria: 7800 N. Navarro Street
Waco: 6001 West Waco Drive
Auburn: 1101 Outlet Collection Way
Network women’s clothing store Charlotte Russe — on the verge of bankruptcy updated: Feb 5, 2019 author: Daria Solovieva