New Delaware Chapter 11 Filing – Charlotte Russe Holding, Inc.

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Charlotte Russe Holding, Inc., along with six affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 19-10210).  Charlotte Russe, headquartered in San Diego, California, is a specialty fashion retailer of young women’s apparel and accessories that primarily retails products under its own brand name.  According to the First Day Declaration, Charlotte Russe—which completed an out-of-court restructuring in February 2018—has filed as a result of continued financial and operational setbacks.  Charlotte Russe intends to sell substantially all of its assets under section 363 of the Bankruptcy Code, but does not enter chapter 11 with a stalking horse bidder.  Donlin Recano is the proposed claims and noticing agent.  The cases have been assigned to the Honorable Laurie Selber Silverstein.

Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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