Another clothing retailer considers filing for bankruptcy

Charlotte Russe is reportedly considering a sale or filing for bankruptcy. TY GREENLEES / STAFF

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Charlotte Russe is reportedly considering a sale or filing for bankruptcy. TY GREENLEES / STAFF

Apparel retailer Charlotte Russe is reportedly considering filing for bankruptcy or selling.

The store has hired Guggenheim Securities to explore strategic alternatives, people close to the matter told the Wall Street Journal. The more than 500-store company thinks it can avoid bankruptcy by increasing scale and size through a sale or partnership, the people said.

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The company is still struggling to adjust to changing consumer shopping habbits nearly a year after making a deal to cut its debt from $214 million to $90 million.

Charlotte Russe has stores at the Mall at Fairfield Commons, Dayton Mall, Cincinnati Premium Outlets, Liberty Center and Tri-County Mall.

Several other mall retailers have filed for bankruptcy over the last year. Major stores like Elder-Beerman and Sears have closed stores and smaller companies like Gymboree are also preparing for a bankruptcy filing.

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