Charming Charlie closing all of its stores

That effort at restructuring its operations and debt "were simply not sufficient to stabilize the debtors' businesses and ensure long-term profitability", according to its latest bankruptcy filing.

Charming Charlie is at 6520 N. Illinois St.in The Shoppes of St. Clair Square shopping center in Fairview Heights.

Charming Charlie, a jewelry and accessory store, filed for Chapter 11 bankruptcy Thursday and plans to close all of its 261 stores in 38 states, USA Today reports.

The Houston-based company had stopped online sales Thursday and was conducting going-out-of-business sales at its stores.

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Founded in 2004, Charming Charlie was known for arranging its merchandise by color, with its array including as many as 26 hues.

There is no estimation of how many people the company employs at this time. Coresight Research's weekly tracker on retail openings and closings in the USA says 7,062 stores have closed so far in 2019, while 5,864 stores closed in all of 2018.

In December of 2017, the retailer announced they had filed for bankruptcy amid underperforming stores.

This story was reported from Los Angeles.

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