Charlotte Russe Holdings Corp. filed Monday for bankruptcy, as the women's apparel retailer looks to wind down about 94 stores, while it continues to pursue a sale of its business. The company has received up to $50 million in debtor-in-possession financing, which would help support operations during the bankruptcy process. The company said its Charlotte Russe and Peek Kids stores and websites will remain open, and will provide more details about store closures in the near term. The bankruptcy comes at a time that the SPDR S&P Retail ETF has lost 9.2% over the past three months and 3.6% over the past 12 months, while the S&P 500 has slipped 2.0% over the past year.
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