Charlotte Russe (clothing retailer)
|Fate||Chapter 11 Bankruptcy; Liquidation|
Number of locations
|Jenny Ming (President & CEO)|
|Products||Clothing, footwear, and accessories for women|
Number of employees
Charlotte Russe is an American clothing retail chain store that operates in the United States, headquartered in San Francisco, California. Fashions in the stores are targeted at women in their teens and twenties. The company owns and operates stores in 45 states. As of June 2014[update], Charlotte Russe operates 560 stores, mostly in malls and shopping centers. It filed for Chapter 11 bankruptcy on February 4, 2019. It was announced on March 7, 2019 that it would be closing all of its remaining stores and would be attempting to sell the brand’s intellectual property.
Charlotte Russe was founded in 1975 by Daniel Lawrence and his two brothers, all who worked in their family's Brooklyn, New York clothing business. Lawrence and his siblings formed Lawrence Merchandising Corp. in Carlsbad, California. With the first Charlotte Russe storefront in San Diego, California, other locations were established throughout the 1970s and early 1980s.
The company was acquired in 1996 by the investment firm of SKM (Saunders Karp & Megrue). The new owners had expansion plans for Charlotte Russe - evolving it into a national chain of shopping mall stores. SKM took Charlotte Russe public in 1999 until Advent International acquired it in 2009. As President and CEO, Jenny Ming led Charlotte Russe into a private holding once again.
On March 7, 2019, Charlotte Russe announced that will close all of its stores over the next two months. Liquidator SB360 Capital Partners won the auction in bankruptcy court for Charlotte Russe's $160 million worth of inventory, and other assets.
- 1975: Lawrence brothers open first Charlotte Russe store, in Carlsbad, California.
- 1990: Charlotte Russe moves into Arizona.
- 1992: Company expands into Nevada.
- 1994: Clothing manufacturer Rampage Clothing Co. opens first retail outlet.
- 1996: Investment firm SKM buys Charlotte Russe.
- 1997: Company buys Rampage, with 15 stores nationwide.
- 1999: Charlotte Russe Holding goes public.
- 2019: Charlotte Russe files for Chapter 11 bankruptcy protection.
- 2019: Charlotte Russe announces it will close all stores and liquidate its remaining assets.
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