Charming Charlie Emerges From Chapter 11 After Closing 100 Stores
HOUSTON – (Realty News Report) – Charming Charlie, a Houston-based retail chain, has emerged from Chapter 11 bankruptcy after closing about 100 stores.
“Today marks a fresh start for Charming Charlie as we emerge as a stronger, more focused organization that is better positioned to serve customers in our 264 stores across the country,” said Lana Krauter, Chief Executive Officer of Charming Charlie in a press release Tuesday night.
In December, when news broke about the firm’s difficulties, it was reported Charming Charlie had 375 stores and many of these outlets, including stores in Texas, were slated for closure. The stores sell jewelry, handbags, apparel and other items.
“We are pleased the creditors were able to come to an agreement that positions Charming Charlie with a new management team, a stronger balance sheet and an improved retail footprint,” said Christopher Flynn, CEO of THL Credit, which is now the majority equity holder in the Charming Charlie.
April 25, 2018 Realty News Report Copyright 2018