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

Moments of EPA signing in Tokyo. Courtesy: Twitter handle of Jean-Claude Juncker

Textiles | On 18th Jul 2018

EU and Japan sign Economic Partnership Agreement

European Union and Japan have signed an Economic Partnership...

Courtesy: Tego

Apparel/Garments | On 18th Jul 2018

Tego plans to expand product range in 2018-19

Tego, a company that creates premium athletic gear for modern...

Courtesy: rawpixel.com from Pexels

Textiles | On 18th Jul 2018

Hike in import duty on textile-apparel by India beneficial

The Indian Government’s decision to raise import duty on textile and...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

C. Dhandayuthapani
Mag Solvics Pvt. Ltd

ITME 2016 exploited our full strength like never before

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Ashish M Amin

Premier Looms is a leading provider of cutting-edge machinery and...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kerem Durdag
Biovation II LLC

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

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

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

Leave your Comments


July 2018

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

news category


Related Categories:

Advanced Search