WATERTOWN — Women’s clothing retailer Charlotte Russe will return to the Salmon Run Mall in November, less than a year after it shuttered.
The new owner, YM Inc., Toronto, Ontario, plans to re-launch 100 Charlotte Russe stores, according to a news release from the Watertown mall. The mall’s owner, Pyramid Manage Group, will house 10 locations across its various shopping centers, including one in Destiny USA, Syracuse, that have been slated for reopening between this month and December.
“We are incredibly excited to welcome back the Charlotte Russe brand to Salmon Run Mall for our guests who love the brand’s affordable, on-trend fashions,” said Karla Woods, marketing director for the local mall, in a statement.
Charlotte Russe, San Francisco, Calif., filed for bankruptcy in February and it’s liquidation agent, SB360 Capital Partners, kicked off going out of business sales for its 416 locations in March. The liquidator sold the clothing retailer’s $160 million in inventory in stores only, and the company, founded in 1975, closed it’s online marketplace. All stores were scheduled to close before May 1 unless extensions were granted.
YM purchased Charlotte Russe for an undisclosed price in late March, according to a news release. The Canadian retailer and its affiliated companies own at least eight other clothing brands, including Urban Planet, Blue Notes and Suzy, according to its website.
“Charlotte Russe is an iconic retailer and we could not be more excited to have them join the YM Group,” said YM CEO Eric Grundy in an earlier statement. “We believe that this acquisition aligns well with our growth strategies and will further strengthen our mission to exceed customer expectations by delivering fast fashion at amazing value.”