Charming Charlie to close all 261 stores after second bankruptcy filing

National

PARK CITY, UT – MARCH 23: A view of the Charming Charlie booth during the Operation Smile 8th Annual Park City Ski Challenge presented by Poly, St Regis Deer Valley & Deer Valley Resort at The St. Regis Deer Valley on March 23, 2019 in Park City, Utah. (Photo by Kim Raff/Getty Images for Operation Smile)

TAMPA, Fla. (WFLA) – Charming Charlie plans to close all 261 of its stores after filing for bankruptcy for the second time in less than two years, Bloomberg reported.

The fashion accessory retailer, which employs more than 3,000 people, filed for Chapter 11 protection in Delaware.

When Charming Charlie filed for bankruptcy the first time, CFO Alvaro E. Bellon said in a court filing said that the company “continued to face challenges that make it impossible for Charming Charlie to continue as a going concern.”

Alvaro also said malls are less busy than they used to be and that low-performing stores were only open due to lease agreements.

According to Bloomberg, the chain expects the liquidation process to take about two months.

Charming Charlie was founded in Houston in 2004.

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