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Charming Charlie, Back in Bankruptcy, to Close All Stores

The retailer has filed for chapter 11 bankruptcy protection, marking the second time within two years.
Source: Shutterstock
By
  • Bloomberg

HOUSTON, United States — Fashion accessory retailer Charming Charlie plans to close its roughly 260 stores as part of a second trip to bankruptcy court in less than two years, according to court documents.

Charming Charlie Holdings Inc. filed for Chapter 11 protection in Delaware, a little more than a year after emerging from a court restructuring. The company plans to hold going-out-of-business sales, which it expects will last about two months and generate $30 million. Charming Charlie has more than 3,000 full- and part-time employees.

The company, founded in Houston in 2004, has stores in shopping malls across the US. Charming Charlie is known for organising its bright merchandise by colour, and its core customer base is middle-aged women, Chief Financial Officer Alvaro E. Bellon said in a court declaration.

The case is Charming Charlie Holdings Inc., 19-11534, US Bankruptcy Court for the District of Delaware.

By Jeremy Hill; editor Rick Green and Shannon D. Harrington.

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