
The end is nigh for Charlotte Russe.
The mall-based retailer, which is primarily geared toward young women, filed to liquidate its assets on Wednesday and announced it would be closing all of its stores. It previously filed for bankruptcy protection in February and at the time said it would close 94 stores.
We visited Charlotte Russe's only Manhattan store on Thursday to see how the liquidation sales were unfolding. This store was part of the initial wave of store closures announced in February, so the sales were well underway.
A sales assistant could not confirm when the store would be shuttering for good. However, the company said in a bankruptcy court filing on Wednesday that liquidation sales at all its stores would run through April 30.
Here's what we found:
Large signs in the window made it immediately obvious that the entire store was on sale.
Clothing racks were marked with large signs informing customers of the 40% to 60% discounts.
Signs saying "NOTHING HELD BACK" screamed out to customers.
The entire store was on sale.
You could pick up a sweater for as little as $4.99.
The store was also selling off old marketing images.
Charlotte Russe has come under pressure as so-called ultra-fast-fashion stores such as Fashion Nova and Boohoo have entered the market and churned out cheap and trendy clothing.
Charlotte Russe has struggled for some time as its debt has mounted. Last year, it trimmed its debt load from $214 million to $90 million in a restructuring deal.