Charlotte Russe to consider strategic alternatives

By Lisa Kerner

Charlotte, N.C., Jan. 21 - Charlotte Russe Holding, Inc.'s board of directors is evaluating strategic alternatives, including a possible sale of the company, with the assistance of Cowen & Co., LLC, it was announced on Wednesday.

The company said it has received "potential expressions of interest from third parties."

In November, Charlotte Russe rejected an offer from KarpReilly Capital Partners, LP to acquire the San Diego specialty retailer for between $9.00 and $9.50 per share, it was previously reported.

"For more than a year, Charlotte Russe has been working to develop, and more recently has begun to implement, a new strategic plan designed to increase long-term growth and profitability," chairman Jennifer Salopek said in a company news release.

"While we remain confident in our ability to successfully implement the plan and improve performance, the board is evaluating all alternatives to achieve maximum value for Charlotte Russe shareholders."

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