Charming Charlie Filed for Bankruptcy Again and Is Closing All 261 Stores

This story is being updated. Houston-based retailer Charming Charlie said Thursday it will close all its stores by the end of August after filing its second bankruptcy in two years.The specialty retailer, which received kudos when it first opened for grouping its women's fashion accessories by color to create a different way to shop, has 261 stores, including 35 in Texas.Charming Charlie exited its first bankruptcy just last year after closing about 100 stores. The company asked the bankruptcy court to allow it to honor $19 million of outstanding gift cards for 30 days. The decision to file again was made "after the implementation of numerous cost-reduction measures" and prior store closings."These efforts simply were not sufficient to stabilize" the business and "ensure long-term profitability," the company said in the Delaware court filing.Twitter: @MariaHalkias  Continue reading...