Charlotte Russe filing for bankruptcy; Waco store closing

Posted at 5:28 AM, Feb 05, 2019
and last updated 2019-02-05 06:28:21-05

Charlotte Russe has filed for Chapter 11 bankruptcy on Monday, according to a press release.

They said they plan on closing around 94 stores, including the one in the Richland Mall in Waco. They currently operate about 500 stores nationwide. For a full list of closures, click here.

They have secured $50 million to continue to run the other stores. Last year, the company reached a deal to reduce its debt from $214 million to $90 million. Despite this deal, sales continued to plunge.

They are only the latest mall-based retailer to file for bankruptcy, joining Gymboree and Claire's.

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