Fashion retailer with five local stores going out of business

Charlotte Russe, a 44-year-old fashion retailer with five local stores, is going out of business and closing all of its 416 locations nationwide.

A U.S. Bankruptcy Court judge in Delaware on Thursday approved an order naming SB360 Capital Partners as a liquidator for the retailer, which declared Chapter 11 bankruptcy in February.

Charlotte Russe has area stores at Circle Centre, Greenwood Park Mall, Castleton Square, Metropolis and Hamilton Town Center.

Going-out-of-business sales are expected to begin immediately and “wrap up quickly,” the retailer said.

The retailer said inventory valued at $160 million will be liquidated nationally.

San Francisco-based Charlotte Russe was founded in 1975 as a shopping destination for young women seeking trendy apparel, shoes and accessories. Sales at the retailer reached their peak in 2016, at $986 million.

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