Charlotte Russe Files Bankruptcy
We all know the days of going to the mall have changed quite a bit with the convenient trend of online shopping. Amazon changed the retail world as we knew it, but it seems like one by one the brick and mortar stores are filing for bankruptcy and disappearing.
Charlotte Russe, the popular teen-targeted store with a Boise Towne Square Mall location filed for Chapter 11 bankruptcy on Sunday and announced they will be closing about 94 stores according to an article on msn.com.
No confirmation yet on whether or not our Boise store will take a hit in being one of the 94 stores out of their 500 operating locations to close. The company has confirmed they will continue to run online sales through their website and they said in a press release that they will continue to pursue a sale of the business after receiving a commitment of $50 million in debtor-in-possession financing and that they will provide additional information about closing sales and the addresses of the stores set to close in the near term.
Gymboree, the popular children's store has also left the Boise Towne Square Mall and we've recently heard that a Fossil Watch store will open in the empty space. Sears is also leaving Boise Towne Square after a bankruptcy filing, no word on what will take over that space yet.
Personally, I like getting out of the house, going to the mall and doing some old school shopping instead of just getting a little brown box on my door-step, but as I said, times have changed and we are seeing more and more physical stores disappearing. We'll keep you posted as the details of Charlotte Russe's bankruptcy filing are released.