A women’s fashion accessories boutique that operates a store in Livingston County is going out of business.
Charming Charlie filed for Chapter 11 bankruptcy this week and announced plans to close all of its 261 stores in 38 states. Charming Charlie has six Michigan stores, including two locally at the Green Oak Village Place Mall and the Novi Town Center. The company previously filed for bankruptcy in 2017 and emerged in April of 2018 after closing 100 stores. The company’s chief financial officer Alvaro Bellon said the brand “continued to face challenges that make it impossible for Charming Charlie to continue.” Going-out-of-business sales have already begun and the company expects to vacate its stores by August 31st.
Meanwhile, analysts expect more stores will close by the end of 2019 as part of what some refer to as the “retail apocalypse”. The Charming Charlie store closures are just the latest of many in the retail industry and bricks-and-mortar stores that continues to struggle with online competition and big box stores. Other companies that have announced closures or declared bankruptcy this year include Payless ShoeSource Charlotte Russe, Dressbarn, Toys R’ Us, Shopko, Gymboree, Claire’s and David’s Bridal. (JM)