Charlotte Russe closing all stores as liquidation sales begin
A little more than a month after filing for bankruptcy, women's clothing retailer Charlotte Russe announced the company is going out of business and will close all of its locations, including the store at the Miller Hill Mall in Duluth. The company website has been largely disabled and only includes a simple message stating the online store is closed and going of business sales were to start at all locations on Thursday.
When the bankruptcy filing was announced on Feb. 5, the company said it planned to close 100 of its 500 stores. However, that has now shifted and the entire company will close. An estimated 8,700 people work for Charlotte Russe.
Declining sales over the last few years are the biggest factor in the company's financial struggles as sales dropped from $928 million in 2017 to $795 million last year.
All purchases made in the liquidation sale are final and gift cards must be used by Mar. 21.
The clothing store at the Miller Hill Mall opened in 2008.
The News Tribune contributed to this report.