Charming Charlie files Chapter 11 bankruptcy


Charming Charlie is the latest company to file for Chapter 11 bankruptcy in court on Tuesday.

In a press release from the company, they expects to operate the majority of its stores and its website as usual during the court supervised process.

"The company intends to move forward with its previously announced plans to close under-performing locations and simplify its business operation."

"During the holiday season, and hundreds of our stores across the country are open for business and serving customers, " said Lana Krauter, Interim Chief Executive Officer of Charming Charlie.

Krauter said, the company is "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 joins the list of retailers who have closed stores after filing for bankruptcy.

The company sent out a series of tweets Monday night, reassuring customers that the stores would remain open.

Charming Charlie has not said what stores they will be closing.

The company currently operates more than 375 stores in the United States and Canada.

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