Home / Knowledge / News / Apparel/Garments / Investors propose to purchase outstanding shares of Charlotte Russe
Investors propose to purchase outstanding shares of Charlotte Russe
13
Nov '08
The Board of Directors of Charlotte Russe today confirmed that it received earlier today a proposal by KarpReilly Capital Partners LP ("KarpReilly") and H.I.G. Capital, LLC to acquire all of the outstanding shares of the Company at a valuation range of between $9.00 and $9.50 per share.

Consistent with its fiduciary duties, and in consultation with its independent financial and legal advisors, the Company's Board will review and consider KarpReilly and H.I.G Capital's proposal in due course.

Jennifer Salopek, Chairman of Charlotte Russe, said, "We are committed to doing what is in the best interests of shareholders and will evaluate the proposal carefully in light of current economic conditions.

"We would note that a fundamental premise of the KarpReilly proposal, i.e. that Charlotte Russe has no permanent management team, was addressed by this afternoon's announcement of a new management team.

The Board has also been developing a new strategic plan to address current issues at the Company and is confident that the new management team would be well positioned to reinvigorate growth and profitability."

About Charlotte Russe:
Charlotte Russe Holding, Inc. is a mall-based specialty retailer of fashionable, value-priced apparel and accessories targeting young women in their teens and twenties. As of September 27, 2008, the Company operated 487 stores in 45 states and Puerto Rico. For more information about the Company, please visit http://www.charlotterusse.com.

Charlotte Russe


Must ReadView All

Textiles | On 21st Jul 2017

No shortage of cotton & yarn in country: Minister

There is no shortage of cotton and yarn in the country, and the...

Pic courtesy: Sutlej Textiles & Industries Ltd

Textiles | On 21st Jul 2017

Sutlej Textiles’ Q1 FY18 EBITDA expands to Rs 76.28 cr

Sutlej Textiles and Industries Ltd (STIL), one of India’s largest...

Textiles | On 21st Jul 2017

CAI revises 2016-17 cotton crop to 337.25 lakh bales

Cotton Association of India (CAI) has upwardly revised cotton crop...

Interviews View All

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X