Six Charming Charlie stores in Illinois are a among 97 stores across the nation set to close after the company filed for Chapter 11 bankruptcy last week, but two Kane County stores — in Aurora and Geneva — appear to have survived the company’s restructuring proposal.
Charming Charlie stores in Lombard, South Barrington, Mount Prospect, Vernon Hills, Wheaton and Kildeer will close, according to the company.
You can read more about the company’s restructuring on this page of the Charming Charlie website.
“At Charming Charlie we are undertaking a comprehensive financial and operational restructuring to ensure that we can move forward with our previously announced back-to-basics strategy and continue to serve our loyal customers,” company officials said. “For all of our customers, vendors and talented employees: CharmingCharlie.Com and hundreds of Charming Charlie stores across the country are open for business and serving customers.”
The retailer said it had secured $20 million in debtor-in-possession financing from a majority of its existing term loan lenders and entered into a $35 million asset backed loan with current lenders.
“To achieve our financial objectives, Charming Charlie voluntarily filed for Chapter 11 in the United States Bankruptcy Court for the District of Delaware,” the company said. “We are confident that by reducing the size and scale of our business, we can focus on the core strengths that make the Company successful while continuing to improve our customers’ experience.”
Confirmation of the bankruptcy arrives in the midst of the holiday shopping season.
The Geneva location of Charming Charlie is in the Geneva Commons, 202 Commons Drive. The Aurora location is in the Fox Valley mall, 195 Fox Valley Center.
Charming Charlie Information