Charlotte Russe could end up closing all its stores starting in early March if the bankrupt retailer can’t find a buyer.
The company previously announced earlier this month that it planned to close four of its 18 Michigan locations. The Michigan closures, part of 94 closures nationwide, came after the fashion retailer filed Chapter 11 bankruptcy earlier this month.
Stores already set to close include the Dearborn store in Fairlane Mall, the Howell store at the Tanger Outlets, the Okemos store on West Grand Avenue and the Fashion Square Mall store in Saginaw.
Bids for the clothing chain must be offered by March 3 and an auction will occur two days later, according to USA TODAY. If a winning bid doesn’t emerge, the company would “facilitate an orderly wind-down of all its store locations and operations beginning on or about March 7, 2019.”
In other retail closing news, more than 2,000 Payless stores are expected to close in the U.S. and Canada, including 85 stores in Michigan, according to CNBC.
Liquidation sales for Payless were set to began Sunday with some stores expected to close by the end of March and the remaining stores closing by the end of May, USA TODAY reported.
Payless also filed Chapter 11 bankruptcy this month.
The sweep of corporate store closures comes shortly after Sears Holdings announced several stores closing after the company filed bankruptcy in October 2018. Although ESL Investments was a winning bidder for the company’s auction, approximately eight Sears and Kmart store closures announced between October and December are still expected by the end of March.
In addition, Hard Rock Café closed last month with The Broadway, Mr. B’s Food & Spirits and Amber’s Hallmark Shop in Westland on the list of store closures.