Charlotte Russe will close six Maryland stores as part of bankruptcy proceeding
As part of its bankruptcy filing, women’s fashion retailer Charlotte Russe will close 94 stores, including six locations in Maryland.
Charlotte Russe Holdings Corp. filed for Chapter 11 protection from its creditors Sunday in U.S. Bankruptcy Court in Delaware and said it will pursue a sale of the business and its assets.
In Maryland, the retailer said Monday it will close locations in Annapolis Mall and Harford Mall in Bel Air as well as Frederick, Gaithersburg, Hagerstown and Ocean City.
It’s the latest in a string of bankruptcies and store closings as retailers look to become leaner and trim the number of physical locations to stay competitive in an era of online shopping. Closings have come as well from Sears, Kmart, JCPenney, Bon-Ton, Macy’s, Gymboree and others.
Charlotte Russe, which has more than 500 stores in 48 states, mostly in malls and outlet centers, said it has a commitment for $50 million in financing to support operations during the Chapter 11 proceeding.
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