Charlotte Russe

bankrupt

Retail — Advent International

Deal Terms

Entry Year2009

Entry EV$0.38B

Entry Multiple5x

Leverage5x

Debt Amount$0.214B

Outcome

Exit Year2019

Risk Metrics

LTV (est.)56%

Debt / EV0.56x

Notes

Advent bought for $380M (2009). Debt grew from $175M to $214M. Reduced to $90M in 2018 restructuring — still not enough. Sales crashed from $928M to $795M. Filed Chapter 11 Feb 2019. Liquidated entirely — all stores closed. PE couldn't fix a broken fast-fashion model.

Sponsor

Advent International$90B AUM