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Fashion Jewelry Chain to Close All 261 Stores

3,000 employees could lose their jobs.

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Jewelry and accessories retailer Charming Charlie is closing all of its 261 stores in connection with its Chapter 11 bankruptcy filed July 11.

Bloomberg reports that over 3,000 full- and -part-time workers could lose their jobs.

The bankruptcy filing is Charming Charlie’s second in the past two year, Bloomberg reports.

Store closing sales are being conducted by a joint venture consisting of Hilco Merchant Resources and SB360 Capital Partners, according to a press release.

Charming Charlie operates in 38 states. A full list of closing stores is available here.

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The liquidation is expected to take two months.

The company’s debt totals $82 million, according to Bloomberg. Its cash on hand amounted to only $6,000  as of the bankruptcy filing.

Charming Charlie is a Houston-based specialty retailer focused on fashion jewelry, handbags, apparel, gifts and beauty products.

Over the years, INSTORE has won 80 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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