Beloved fashion accessory retailerCharming Charlieis the latest store to go under.On Thursday, Charming Charlie Holdings Inc. filed for Chapter 11 bankruptcy and plans to close its roughly 260 stores, which span malls across the U.S. The company is working to liquidate its assets, which they expect to take about two months, according to the court filing.The retailer’s website, which sells a range of jewelry and handbags as well as a selection of women’s clothing, is still up, but cannot take any orders.According to Bloomberg, at the time Charming Charlie filed for bankruptcy, it only had $6,000 of cash on hand and it will be left with about $82 million in debt. Charming Charlie has yet to return PEOPLE’s request for comment.Kim Raff/GettyThis is not Charming Charlie’s first run in with bankruptcy. In April 2018, the company closed about 100 of its stores after its first Chapter 11 filing. “Today marks a fresh start for Charming Charlie as we emerge as a stronger, more focused organization,” Charming Charlie’s Chief Executive Officer said in apress releaselast April.Charming Charlie is just another women’s retailer to have faced closings this year. In February,Charlotte Russe filed for relief under Chapter 11and planned to close 94 out of 500 of its brick and mortar locations. And in May,Dressbarn announced they will be closingall 650 of its stores.
Beloved fashion accessory retailerCharming Charlieis the latest store to go under.
On Thursday, Charming Charlie Holdings Inc. filed for Chapter 11 bankruptcy and plans to close its roughly 260 stores, which span malls across the U.S. The company is working to liquidate its assets, which they expect to take about two months, according to the court filing.
The retailer’s website, which sells a range of jewelry and handbags as well as a selection of women’s clothing, is still up, but cannot take any orders.
According to Bloomberg, at the time Charming Charlie filed for bankruptcy, it only had $6,000 of cash on hand and it will be left with about $82 million in debt. Charming Charlie has yet to return PEOPLE’s request for comment.
Kim Raff/Getty
This is not Charming Charlie’s first run in with bankruptcy. In April 2018, the company closed about 100 of its stores after its first Chapter 11 filing. “Today marks a fresh start for Charming Charlie as we emerge as a stronger, more focused organization,” Charming Charlie’s Chief Executive Officer said in apress releaselast April.
Charming Charlie is just another women’s retailer to have faced closings this year. In February,Charlotte Russe filed for relief under Chapter 11and planned to close 94 out of 500 of its brick and mortar locations. And in May,Dressbarn announced they will be closingall 650 of its stores.
source: people.com
