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SCT

New owner to open 100 Charlotte Russe stores

April 15, 2019

Charlotte Russe, which closed hundreds of stores two weeks ago, announced that it will relaunch itself and open stores at 100 locations.

“We are planning a brand-new online shopping experience, as well as reopening 100 retail locations across the U.S.,” read a statement on the company’s Twitter account last week. “Watch out for more details coming soon!”

The company's website carried the same message.

“This acquisition marries a beloved brand with a sophisticated retail platform and provides Charlotte Russe a path to grow in the future”

The women's apparel retailer, which once operated about 500 stores across 49 states and in Puerto Rico, filed for Chapter 11 bankruptcy protection in February. YM Inc., a Toronto-based apparel manufacturer, bought the brand and the intellectual rights in March.

“This acquisition marries a beloved brand with a sophisticated retail platform," interim CEO Dayna Quanbeck said in a press release, "and provides Charlotte Russe a path to grow in the future."

By Edmund Mander

Director, Editor-In-Chief/SCT

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