Charming Charlie is shuttering stores in 38 states. The jewelry and accessory chain recently filed for Chapter 11 bankruptcy and like many other brick and mortar stores (such as Toys “R” Us and Gymboree), Charming Charlie’s days are coming to an end.
This isn’t the first time the retailer has filed for Chapter 11. Charming Charlie’s first bankruptcy ended last year, but included the closure of 100 stores. With the second filing, the company will now need to close its remaining 261 locations.
photo: Mike Mozart via Flickr
So what pushed Charming Charlie over the edge? Reportedly, “unsustainable operating expenses,” including the rising cost of leases, are at fault.
According to recent reports, the chain plans to complete the closure by the end of August. This means saddened fans of the retailer will get a last chance to score deep discounts immediately—many locations are already in going out of business sale mode.