Charlotte Russe—the clothing and accessories retailer that has a location in the lower level of the Montgomery Mall—will close in the coming weeks.
The California-based mall chain sold its assets to SB360 Capital Partners LLC, a move that will liquidate the company that employs more than 8,700. The sale was approved during a court hearing in Delaware on Wednesday.
Charlotte Russe began liquidation sales Thursday at its 416 stores, including the Montgomeryville store, with all locations closing by the end of April.
Gift cards will be accepted until March 21.
“Merchandise currently in the stores plus additional product from the distribution center and product originally designated to support the e-commerce platform, will be sold at discounted prices. The entire store will be on sale with deep discounts off the lowest ticketed prices,” the retailer’s new owner said in a statement.
CNN reported Charlotte Russe filed for bankruptcy protection last month.
Charlotte Russe was founded in 1975 and reached its peak sales of $986 million in 2016.
Charlotte Russe’s impending closure mirrors that of other chain stores that have closed in malls across the country and retail strip centers.
See also:
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Firebirds Wood Fired Grill Coming To Montgomery Township
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Frank Theaters In Montgomeryville Has Closed
