Remaining locations will continue to operate as normal, according to Lana Krauter, Interim Chief Executive Officer of Charming Charlie.
The bankruptcy will “help ensure that the company has adequate sources of financing and the right capital structure to support the business in an ongoing basis as we continue to implement our Back-to-Basics strategy,” Krauter said. “We are confident that by reducing the size and scale of our business we can focus on the core strengths that make the company successful.”
Charming Charlie was founded in 2004. Company officials stated all the stores slated for closures were considered “underperforming.”
A list of locations cited to close is not available as of yet. Sources say Alabama, Texas, Nebraska and Illinois have locations that will close.