Women’s fashion retailer Charlotte Russe Holdings Corp. is still searching for a buyer that can purchase the cash-strapped chain out of bankruptcy, but is preparing to liquidate if it can’t find a deal in the next couple of weeks to save the business, the Wall Street Journal reported. Charlotte Russe has signed a stalking-horse agreement with liquidators Hilco Merchant Resources LLC and Gordon Brothers Retail Partners LLC, according to papers the company filed on Tuesday in the U.S. Bankruptcy Court in Wilmington, Del. The agreement with liquidators, which is subject to higher bids, starts the clock on a crucial two-week window that likely will determine the fate of Charlotte Russe. The company could close the chain if a buyer doesn’t place a better bid to keep the retailer operating out of bankruptcy as a going concern.
