Local News
Charming Charlie in Bankruptcy, Plans to Close Several Texas Locations
Visit your nearest Charming Charlie before Christmas because Dallas News reports that the inexpensive store full of fun accessories divided by sections of vibrant colors will be closing 25 percent of their stores after the holiday. In fact, they’ve already started the process of shutting down 97 of their 374 locations, but only one is located in Texas (Fort Worth’s Westover Village.)
The San Antonio Express-News writes that Charming Charlie, which is based in Houston, has filed for chapter 11 bankruptcy and “…as much as $45 million in inventory is now stranded in distribution centers and ports, and the company has reported it has only $700,000 in cash.”
Dallas News lists the following stores as the ten locations that will shut down after Christmas: “Temple Town Center in Temple, City Centre in Houston, Wolf Ranch Town Center in Georgetown, Longview Mall in Longview, Central Mall in Texarkana, Central Texas Marketplace in Waco, The Domain in Austin, 7990 State Hwy. 242 in Conroe, La Plaza Mall in McAllen, and Westover Village in Fort Worth.”
Interestingly, the company points to the separation of products into 26 color collections as part of the reason they’ve had problems. When one color doesn’t sell well, the store is forced to mark down the whole section, which “ate into profit margins,” according to the San Antonio Express-News.
