On February 4, 2019, Charlotte Russe filed for Chapter 11 bankruptcy and planned to close 94 of its stores, citing a "dramatic decrease in sales and in-store traffic". As President and CEO, Jenny Ming led Charlotte Russe into a private holding once again. SKM took Charlotte Russe public in 1999 until Advent International acquired it in 2009. The new owners had expansion plans for Charlotte Russe - evolving it into a national chain of shopping mall stores.
The company was acquired in 1996 by the investment firm of SKM ( Saunders Karp & Megrue). With the first Charlotte Russe storefront in San Diego, California, other locations were established throughout the 1970s and early 1980s. Lawrence and his siblings formed Lawrence Merchandising Corp.
Going out of business sale in Rapid City, South DakotaĬharlotte Russe was founded in 1975 by Daniel Lawrence and his two brothers, all who worked in their family's Brooklyn, New York clothing business.
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