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Women’s fashion retailer Charlotte Russe files for bankruptcy, to close 94 stores; Lafayette store to remain open

Posted at 8:41 AM, Feb 05, 2019
and last updated 2019-02-05 09:41:03-05

Women’s fashion retailer Charlotte Russe announced late Monday it will close two of its nine Louisiana stores after filing for Chapter 11 bankruptcy on Sunday.

The Advocate is reporting the company will close stores in New Orleans and Slidell as part of 94 closures planned nationwide, the USA Today reported.

The Lafayette store inside the Acadiana Mall did not make the list. The New Orleans store to close is inside the Outlets at Riverwalk Marketplace, and the Slidell store is at the Fremaux Town Center.

Charlotte Russe, which caters to women in their teens and 20s, has more than 500 stores in 49 states and Puerto Rico. Company officials said in their filing that it has a bankruptcy financing package worth up to $50 million to keep it operating, the USA Today reported.

Company officials will begin liquidation if a buyer can’t be found by Feb. 17, the report indicated. It has 8,700 employees.

The closures are the latest among national clothing retailers. Gap announced a round of closures, including stores in the Acadiana Mall, late last year, and Maurice’s closed a number of stores, including one of its Lafayette locations.