Another Hudson Valley Retailer Files For Bankruptcy
Another local retailer has filed for bankruptcy and intends to close nearly 100 stores across the country.
Fox 8 reports that a teen and young adult retailer has filed for bankruptcy. Charlotte Russe officially filed for Chapter 11 bankruptcy on Monday, February 4, 2019. Nationwide, they have over 500 locations, but locally they have 3 locations. The filing comes after poor sales and debt.
Charlotte Russe has Hudson Valley locations in Poughkeepsie, West Nyack, and White Plains. According to Fox 8, the retailer plans to close 94 locations across the country. Those locations have not been named yet.
Fox 8 reports that representatives from Charlotte Russe, a business classified as 'fast fashion', said the bankruptcy comes from not being able to keep up with constantly changing trends in the fashion world and from shifting focus to basic, everyday items, as opposed to trendy clothes.
The retailer plans to close stores and shift back to a trendy, fast-fashion business model in hopes to survive bankruptcy.