Charming Charlie Closing 10 Stores In Texas As Part of Its Bankruptcy
Style Magazine Newswire | 12/15/2017, 8:10 a.m.
Source: DallasNews.com
Houston-based Charming Charlie has filed for Chapter 11 bankruptcy and will be closing 25 percent of its stores right after Christmas. The 374-store retailer of women's accessories and apparel said it has started closing 97 stores. Only one of those locations is in North Texas, in Fort Worth's Westover Village. Charming Charlie was founded in 2004 and expanded across the U.S. and into Canada, the Middle East and the Philippines. The company said in its bankruptcy filing that it "like many other retail and apparel-focused companies, has suffered as of late from adverse macro-trends, as well as certain operational shortfalls." The shift from brick-and-mortar retail to online together with its merchandising miscalculations, lack of inventory and a too-broad vendor base contributed to its underperformance, the company said.
