Major Retailer Announces Bankruptcy, Will Close All 261 Stores Nationwide


This is really sad — just more proof that retail is not having a great year. Jewelry and accessories store Charming Charlie announced today they’ve officially filed for Chapter 11 bankruptcy and will close down ALL of their 261 stores in the country (38 states to be exact.)

The company had previously announced another bankruptcy, and they closed about 100 stores in early 2018. USA Today reports that the retailer “used that process to cut debts and slash other costs, but these efforts simply were not sufficient to stabilize the business and deliver profits.”

The company also said it faced “unsustainable operating expenses, including onerous leases at a time when many brick-and-mortar stores are battling with online retailers.”

You may want to go fast to these stores — closing sales have already begun at many of them, and the company expects to vacate all 261 stores by August 31st.

Here's The 18 Brands That Are Closing Their Stores In 2019 - Thumbnail Image

Here's The 18 Brands That Are Closing Their Stores In 2019

106.1 The Breeze · Philly's Relaxing Favorites

Listen Now on iHeartRadio