Charming Charlie Plans to Close 260 Stores After Filing for Bankruptcy Again

Charming Charlie Lubbock Texas

Charming Charlie Lubbock Texas

Texas, Florida and California together have about 75 Charming Charlie stores.

Charming Charlie is closing up shop.

Another retailer is going bust: Charming Charlie Holdings plans to close its remaining 261 stores after filing for bankruptcy protection for the second time in as many years. The announcement affects more than 3,000 full- and part-time employees across the country, all of whom could lose their jobs. The retailer's e-commerce site has already stopped taking orders.

Bloomberg news reports that Charming Charlie had just $6,000 in cash left following a failed turnaround effort that began last April.

This is the second time the company filed for Chapter 11 bankruptcy.

In the filing, the company cited facing "significant headwinds given the continued decline of the brick-and-mortar retail industry".

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According to Fortune, the company blamed high lease costs as one of the factors that lead to filing bankruptcy.

Hilco Merchant Resources LLC and SB360 Capital Partners were handling liquidation sales, which were expected to generate about $30 million in revenue, court documents show.

Founded in 2004, Charming Charlie sells a wide assortment of jewelry, handbags, apparel, gifts and beauty products, with the merchandise organized by color.

Other retailers have suffered similar fates in the current retail climate.

The Houston-based women's clothing and accessories store has three Sacramento-area locations, where shoppers can find bargains: at Folsom's Palladio mall; at the Fountains shopping center in Roseville, near the Galleria; and Elk Grove's Laguna Crossroads shopping center, at the corner of Bruceville Road and Laguna Boulevard.

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