Charlotte Russe will reopen their Manchester location! The announcement was made on the mall's website with the retailer listed as coming soon! The retailer closed their location last month after a very short liquidation period.
Charlotte Russe will reopen their Manchester location at The Shoppes at Buckland Hills. The store was/will be located on the second level of the mall across from Victoria Secret. The store is nearly one of the mall's larger clothing stores remaining behind the anchor tenants. The woman's clothing chain was owned by Advent International, who purchased the chain is 2009 for nearly $300 million. The chain began to struggle with high debt to equity, and filed for Chapter 11 bankruptcy earlier this year, and changed to Chapter 7 bankruptcy a month later.
The chain began liquidation in March; with the last day to use giftcards being March 21st. The chain was purchased at auction by liquidator SB360 before liquidation started. The chain had almost 9,000 employees at the time of liquidation. The intellectual property was sold to YM INC, a Toronto-based retail group, who plan to reopen 100 Charlotte Russe stores in the coming months. The Shoppes at Buckland Hills is one of the first to be announced.
Charlotte Russe first opened in San Diego in the mid 1970s, before expanding to their large size in the late 1990s and early 2000s while other mall retailers expanded into woman's and men's clothing.
Jean-Luc has written articles for the past year about Manchester Business.