Thread regarding Charlotte Russe Holding Inc. layoffs

I love the spin, CR is opening 10-15 new stores because the landlords agreed to allow them to close over 50 stores, including those whose leases had not yet expired. This decision was made because of how bad business has been. It is cheaper to build 10-15 new stores than remodel 50 outdated stores, and it allows them to close several stores that have gotten too expensive or are losing too much money. This situation is more dire than anyone ever talks about, I wish senior management will stop lying to us, I had to get this info from people who work with the leases.