Charming Charlie Slips Back Into Ch. 11 A Year After Emerging
Law360 (July 11, 2019, 4:44 PM EDT) -- Women’s accessory retailer Charming Charlie hit Chapter 11 on Thursday just 14 months after a previous bankruptcy plan received court approval in Delaware, saying its reduced footprint and deleveraged balance sheet weren't enough to stave off retail industry trends.
In first-day filings, Charming Charlie Holdings Inc. said it would be seeking to wind down its operations and liquidate its 260 store locations after problems with lease obligations and excess inventory put a strain on its liquidity, leaving it with just $6,000 in cash on hand by the time it filed its Chapter 11 petitions Thursday.
"The continuing decline of physical consumer...
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