Charming Charlie (women’s fashion retailer) closing 260 stores in 38 states laying off 3,300 people.
Charming Charlie has fallen victim to the ongoing retail apocalypse.
The women’s fashion accessory retailer has filed for bankruptcy for the second time in two years and announced Thursday it will close all of its stores.
Liquidation of its stores is expected to last nearly two months. Sales on its website have already stopped.
In a Delaware bankruptcy court filing, Charming Charlie disclosed that it has only $6,000 in cash on hand.
It tried perusing other funding, but Alvaro Bellon, the company’s chief financial officer, said in a filing that it became “abundantly clear that those alternative sources were not viable, or not available on the timeline required by the company.”
The company previously filed for bankruptcy in 2017. Despite closing 100 stores after emerging from bankruptcy in April 2018, Bellon said the brand “continued to face challenges that make it impossible for Charming Charlie to continue.”