Charlotte Russe is back. Or, at least, the name of the iconic women’s retailer is again in the marketplace with the promise of opening 100 new stores. However, the ultimate owner is now YM Inc., which bought the name and trademark from the former owners – a conglomerate of lenders who gained control of the company as part of its first bankruptcy two years ago. Those owners have been selling everything following the latest Chapter 11 filing to recoup what they can – even the right to use the Charlotte Russe name. YM Inc. appears to have no BDC lenders or investors. The former Charlotte Russe company, though, continues to have $42mn of remaining exposure – of both debt and equity – spread over 3 BDCs. Expect big realized losses when the affairs of the bankrupt entity are settled. Affected with be FSK, MAIN and sister non-traded BDC HMS Income.