We visited a Charlotte Russe store the day after the company filed to liquidate, and it's clear the retail apocalypse is in full swing
Large signs in the window made it immediately obvious that the entire store was on sale.
Clothing racks were marked with large signs informing customers of the 40% to 60% discounts.
Signs saying "NOTHING HELD BACK" screamed out to customers.
The entire store was on sale.
You could pick up a sweater for as little as $4.99.
The store was also selling off old marketing images.
Charlotte Russe has come under pressure as so-called ultra-fast-fashion stores such as Fashion Nova and Boohoo have entered the market and churned out cheap and trendy clothing.
Charlotte Russe has struggled for some time as its debt has mounted. Last year, it trimmed its debt load from $214 million to $90 million in a restructuring deal.
And it has been unable to keep up. While the store is neatly presented, the shopping experience isn't exciting enough to lure customers offline.
Next, we headed upstairs where reality bites.
Only a month ago, this floor was rammed full of clothing.
Now, clothing racks have been replaced by a heavily depleted shoe department.
The store was also selling off fixtures and fittings.
And at the back of the store, mannequins were lined up for sale ...
The retail apocalypse is in full swing.
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