By  on December 24, 2008

Charlotte Russe Holding Corp. shareholder B. Riley & Co. threatened on Tuesday to force a proxy fight with the junior retailer if it doesn’t pursue a takeover bid that was rejected last month.

In a letter to the Charlotte Russe board, B. Riley also called recent management changes, including the hiring of former Mervyns chief executive officer John Goodman as ceo, “a debacle” and characterized recent merchandising decisions as “misguided.”

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