Last month, the female clothing store, Charlotte Russe, announced they were filing for bankruptcy. The original plan was to close only about 100 of their stores and re-brand themselves, however, the company has now decided to go out of business and close every single one of their U.S. stores.

As of March 7th, liquidation sales have begun and their website is already shut down for business. In a statement to USA Today, the company said

...we remain in ongoing negotiations to sell the (intellectual property) to a buyer who has expressed interest in a continued brick and mortar presence.

As previously reported, the fashion brand decided to file for bankruptcy after sales plummeted between 2017 and 2018.

Charlotte Russe started in 1975 and currently operates 512 stores around the country. All locations will be closed by April 30. It is unknown when the Rivertown Crossings and Woodland Mall locations will close. Gift cards will be accepted through March 21st and all sales are final.

8,700 employees will be affected as a result of the closure.

Store bankruptcies and closures are no longer a surprise these days. Recent retailers to announce closures include Gap, JC Penney, Victoria's Secret, and Foot Locker.

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