All Charlotte Russe stores to close; liquidation sales starting immediately

Charlotte Russe is closing all of their stores across the country by the end of April

Charlotte Russe has one store at Fresno's Fashion Fair mall and another at Visalia Mall.

All purchases made in the liquidation sale are final and gift cards must be used by March 21. The online store has since closed down. And estimated 8,700 people work for Charlotte Russe. Among the other stores are Toys R Us, Barnes & Noble, Macy's and Sears.

According to the Wall Street Journal, the business was unable to find a buyer ahead of a deadline set by lenders.

Similar to Toys "R" Us, Charlotte Russe hadn't originally meant to shutter its stores.

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A spokesperson for the retailer confirmed it plans to liquidate. A DE bankruptcy court approved the closure plan on Wednesday.

In a Wednesday court hearing in Wilmington, Delaware a judge approved the sale of Charlotte Russe's assets to SB360 Capital Partners LLC, a liquidation company. The statement also says the company remains in "ongoing negotiations with a buyer who has expressed interest in a continued brick and mortar presence".

Charlotte Russe, which also controls Peek stores, is the latest clothing retailer to suffer a blow from reduced foot traffic in shopping malls and increased competition from online retailers.

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