Charlotte Russe ‘going out of business,’ closing all its stores

Charlotte Russe filed for Chapter 11 bankruptcy protection a month ago, but now the women’s clothing store will shut down all of its stores, this according to their website and a spokesperson for the company.

El Paso has two Charlotte Russe stores, one located in the Fountains at Farah, another at the Outlet Shoppes at El Paso.

Tonight, the Charlotte Russe website posted “Going out of business…All stores.” on their home page. The website also states that the going out of business sales would start on Thursday, March 7.

In February, the company had announced plans to close 94 of its more than 500 stores.

In a statement, the company said it’s still in negotiations to sell its intellectual property.

“We are partnering with the buyer and remain in talks to sell the IP, are optimistic about the future of the brand, and remain in ongoing negotiations with a buyer who has expressed interest in a continued brick and mortar presence to continue to serve our loyal customers in the future,” the statement said.

According to USA TODAY, the company has more than 8,700 employees.