Charming Charlie's debtors and advisers "have made the hard decision to seek authority to close and wind down or conduct other similar themed sales" at the national chain's 261 brick-and-mortar locations, the bankruptcy filing reads.
On Thursday, Charming Charlie Holdings Inc. filed for Chapter 11 bankruptcy and plans to close its roughly 260 stores, which span malls across the U.S. The company is working to liquidate its assets, which they expect to take about two months, according to the court filing.
Going-out-of-business sales actually started Monday, according to the Chapter 11 filing, and all locations are expected to be closed by the end of August.
There is no estimation of how many people the company employs at this time.
Founded in 2004, Charming Charlie sells a wide assortment of jewelry, handbags, apparel, gifts and beauty products, with the merchandise organized by color.
"These efforts simply were not sufficient to stabilize the Debtors' businesses and ensure long-term profitability", Bellon said.
Charming Charlie is closing up shop.
Bellon said the "continuing decline of physical consumer traffic" to its brick-and-mortar stores precipitated to its demise.
It also faced "severe weather events" in the first quarter of 2019 that led to less shoppers in stores, as well as increased tariffs that reduced the company's "already slim margins", according to the filing.
Other retailers have suffered similar fates in the current retail climate. The company declared bankruptcy this week and announced it would close all its stores nationwide.
This story was reported from Los Angeles.