Fashion accessories retailer Charming Charlie is going out of business and will shutter all 261 stores in 38 states after filing for Chapter 11 bankruptcy Thursday.
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This is the second time the company filed for Chapter 11 bankruptcy.
In 2017, there were 390 Charming Charlie stores in the U.S., Canada, the Philippines and the Middle East, according to Fortune. As part of its earlier bankruptcy filing, which ended in April 2018, the company closed 100 stores. Stores have already started going out of business sales.
More than 3,000 full-time and part-time staffer may lose their jobs, Bloomberg reported
The company is slated to cease all operations by Aug. 31. Charming Charlie blamed “unsustainable operating expenses, including onerous leases” for the bankruptcy filing.
Fashion accessories retailer Charming Charlie filed for Chapter 11 bankruptcy Thursday and will shutter all of its 261 stores. (Getty Images)
The company, which specializes in colorful accessories, was founded in 2004 in Houston. Its stores sell jewelry, bags, scarves, gifts and other accessories.
Like Charming Charlie, a number of retailers in the U.S. have been shuttering stores or declaring bankruptcy in recent months. Discount shoe retailer Payless filed for bankruptcy and will close approximately all of its 2,300 stores in the U.S., while clothing retailer Dressbarn said it would close all of its approximately 650 stores locations in the coming weeks. The company said it plans to shutter all 650 retail locations by the first half of 2020.
FOX Business’ Thomas Barrabi and Katherine Lam contributed to this report.