Retail

Charlotte Russe is closing all its stores

Charlotte Russe
A Charlotte Russe store in Manhattan. Business Insider/Mary Hanbury
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Charlotte Russe has filed for liquidation and will close all its stores.

On Wednesday, a bankruptcy judge in a Delaware court approved the sale of all of Charlotte Russe's assets to a liquidation company, SB360 Capital Partners.

The court document said liquidation sales at the stores would begin on Thursday and run through April 30.

The mall-based retailer, primarily geared toward young women, filed for bankruptcy protection in February and said at the time that it would close 94 stores. Wednesday's filing said it would close the remaining 416 Charlotte Russe stores and 10 Peek Kids stores it operates.

Read more: More than 4,900 stores are closing in 2019 as the retail apocalypse drags on — here's the full list

Later in February, the retailer said that it was in talks with prospective buyers and that it was preparing for the possibility of liquidation and seeking court approval for a plan to close its remaining stores, Business Insider's Hayley Peterson reported.

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Mary Hanbury
Mary was an editor on the business news team, where she worked with reporters and editors to cover sectors including technology, finance, transportation, retail, careers, and real estate.Previously, Mary was a senior retail reporter based in New York and London, covering apparel, luxury, fitness, big-box, and grocery companies. She has reported on major brands including Victoria’s Secret, Lululemon, LVMH, Costco, Dollar General, and Peloton, providing in-depth analysis of trends shaping the industry.Mary earned a master’s degree in Business Journalism from CUNY Craig Newmark Graduate School of Journalism. She has appeared on several TV and radio outlets, including BBC Business, Cheddar, and Good Morning America, and has taken part in industry panels and conferences about trends shaping the retail world.