More than 7000 store premises have already been announced in 2019.
Jewelery and Accessories Dealer Charming Charlie filed for Chapter 11 bankruptcy Thursday with plans to close all her 261 stores in 38 states.
The filing marks the company's second chapter 11 case, qualifying as the restructuring industry Professionals call a "Chapter 22" bankruptcy.
Charming Charlie closed about 100 stores during her previous bankruptcy, which ended in April 2018. The dealer used this process to cut debts and slash other costs, but "these attempts were simply not sufficient to stabilize" the business and delivering profits, the company said on Thursday in a lawsuit.
The company said it faced "unsustainable operating costs, including cumbersome leases" at a time when many bricklayers are struggling with online retailers.
More than 7,000 retail outlets are already in work or completed in 2019 across retail, according to Coresight Research. (See the closures here.)
Charming Charlie sells handbags, clothes and other accessories. (Photo: Getty Images)
Promotional sales have already begun at Charming Charlie, the company expects to leave their stores by August 31, according to a r Hilco Merchant Resources and SB360 Capital Partners handle the liquidation.
Several store premises come: An estimated 12,000 stores may end at the end of 2019
Similar trends have affected competitors such as the Claire shopping center, which was filed for Chapter 11 bankruptcy protection in 2018
Charming Charlie was founded in 2004 by Charles Chanaratsopon and sells jewelry, handbags, clothing, gifts and other items – with particular emphasis on colorful products. The company had grown to more than 390 locations in the United States, Canada, the Middle East, and the Philippines by the end of 2017.
Texas, Florida, and California have approximately 75 charming Charlie stores.
The company considered women aged 35 to 55 to be their "core customer base," chief financial officer Alvaro Bellon said in a court case.
Follow USA TODAY reporter Nathan Bomey on Twitter @ NathanBomey .
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