Charlotte Russe goes private, in $380M deal with Advent International

Bruised by a weak economy and hostile takeover fight, Charlotte Russe Holdings Inc. (CHIC) is going private.

The chain of mall-based clothing stores catering to young women agreed to sell to Advent International Corp., a $24 billion investment group that has already made investments in other apparel retailers including activewear chain Lululemon Athletica and British discount apparel chain New Look.