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With Just $6,000 in Turnaround Funding Left, Charming Charlie Will Shutter All its Stores

July 12, 2019, 09:00 AM
Filed Under: Bankruptcy

A year after exiting restructuring fashion retailer Charming Charlie has reportedly filed its second bankruptcy filing, with plans to close all 261 of its stores. That's according to numerous media reports, which state the company filed for Chapter 11 protection in Delaware.

Bloomberg news reports that Charming Charlie had just $6,000 in cash left following a failed turnaround effort that began last April. Bloomberg quoted Chief Financial Officer Alvaro E. Bellon, who said that after emerging from its previous bankruptcy in April 2018, the company “continued to face challenges that make it impossible for Charming Charlie to continue as a going concern.” These included, among other things, dwindling mall traffic.

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