Another Mall Store Closing in South Jersey
Sadly, another store will be closing its doors across the country forever. Charming Charlie announced this week that they will be closing all of their stores after filing for bankruptcy. 261 stores will be closing, including the one in the Deptford Mal and Marlton Square. The fashion accessory store has 11 stores in New Jersey.
The retail chain was founded in 2004 in Houston Texas. The stores are known for being athletically pleasing, organizing their merchandise by color. This is the second time in two years that Charming Charlie filed for bankruptcy. As a result they shut down 100 stores.
According to CBS News, "...[On] Thursday reported having about $6,000 in cash on hand and said its planned liquidation sales would bring in $30 million in revenue." According to the same article, "The company estimated having about $19.8 million in gift cards outstanding, and expects roughly $7.8 million of that to be redeemed. It asked the bankruptcy court for permission to honor gift cards for 30 days."
Online sales have stopped and the store is expected to close at the end of August.
Source: CBS News