Charlotte Russe will close all of its stores and is in negotiations to sell its intellectual property, USA Today reported. “We are partnering with the buyer and remain in talks to sell the (intellectual property), are optimistic about the future of the brand, and remain in ongoing negotiations with a buyer who has expressed interest in a continued brick and mortar presence to continue to serve our loyal customers in the future,” the fashion retailer said. In a court hearing in Wilmington, Delaware, Judge Laurie Selber Silverstein yesterday approved the sale of Charlotte Russe's assets to SB360 Capital Partners LLC, a liquidation company. According to court documents, store liquidation sales "shall commence no later than March 7" and end "no later than April 30." The San Diego-based mall chain filed for chapter 11 bankruptcy protection in early February and outlined plans to close 94 stores. The chain also put itself up for sale and said if it didn't find a buyer it would liquidate.
