Retailer Charming Charlie closing the remaining of its 260 stores, offices, warehouses - Page 1

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[ARCHIVED THREAD] - Retailer Charming Charlie closing the remaining of its 260 stores, offices, warehouses (Page 1 of 2)

Posted: 7/23/2019 8:07:47 AM EST

So economy, much win

Jewelry and accessories retailer Charming Charlie filed for Chapter 11 bankruptcy Thursday with plans to close all of its 261 stores in 38 states.

The filing marks the company's second Chapter 11 case, qualifying as what restructuring industry professionals call a "Chapter 22" bankruptcy.

Charming Charlie closed about 100 stores during its previous bankruptcy, which ended in April 2018. The retailer used that process to cut debts and slash other costs, but "these efforts simply were not sufficient to stabilize" the business and deliver profits, the company said Thursday in a court filing.

The company said it faced "unsustainable operating expenses, including onerous leases" at a time when many brick-and-mortar stores are battling with online retailers.

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Tanking

Posted: 7/23/2019 8:08:13 AM EST

[#1]

Never heard of 'em.

Posted: 7/23/2019 8:08:31 AM EST

[#2]

Never heard of them, must be regional.

Posted: 7/23/2019 8:10:00 AM EST

[#3]

They sell cheap baubles to the pre-teen and tween girl crowd. I'm not sure if I'm surprised or not.

Posted: 7/23/2019 8:11:28 AM EST

[#4]

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Never heard of them, must be regional.

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38 states isn't regional. If you don't have a pre-teen or tween daughter, though, there's no reason you would know of its existence.

Posted: 7/23/2019 8:11:54 AM EST

[#5]

Rogueboss economics thread

Posted: 7/23/2019 8:12:26 AM EST

[#6]

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Quoted:
Rogueboss economics thread

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Tuesday?

Posted: 7/23/2019 8:12:40 AM EST

[#7]

Never heard of them. But I'm glad you're happy with Obama's results.

Posted: 7/23/2019 8:14:59 AM EST

[#8]

Attached File

Posted: 7/23/2019 8:15:08 AM EST

[#9]

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Never heard of them. But I'm glad you're happy with Obama's results.

http://ichef.bbci.co.uk/news/624/cpsprodpb/15DA2/production/_99660598_3-unempl-nc.png

http://ichef.bbci.co.uk/news/624/cpsprodpb/58BD/production/_99671722_usdowjonesfinak.png

http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/01/23/20170127_GDP_Obama.jpg

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That last chart makes my brain bleed.

Posted: 7/23/2019 8:16:54 AM EST

[#10]

Quoted:
So economy, much win

Jewelry and accessories retailer Charming Charlie filed for Chapter 11 bankruptcy Thursday with plans to close all of its 261 stores in 38 states.

The filing marks the company's second Chapter 11 case, qualifying as what restructuring industry professionals call a "Chapter 22" bankruptcy.

Charming Charlie closed about 100 stores during its previous bankruptcy, which ended in April 2018. The retailer used that process to cut debts and slash other costs, but "these efforts simply were not sufficient to stabilize" the business and deliver profits, the company said Thursday in a court filing.

The company said it faced "unsustainable operating expenses, including onerous leases" at a time when many brick-and-mortar stores are battling with online retailers.

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Tanking

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Cant blame all failures on the economy or Trump. Sometimes your business model is just not sustainable or because past decisions presently screw you.

Sounds more like Darwin.

Posted: 7/23/2019 8:17:34 AM EST

[#11]

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That last chart makes my brain bleed.

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Posted: 7/23/2019 8:18:29 AM EST

[#12]

Charming Charlie's sells cheap junk costume jewelry from China.

Posted: 7/23/2019 8:46:15 AM EST

[#13]

Sorry Charlie.

Posted: 7/23/2019 8:49:11 AM EST

[#14]

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Quoted:
Charming Charlie's sells cheap junk costume jewelry from China.

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^ ^ ^ T H I S ^ ^ ^

Cheap shit . . . an Asian flea market.

Good riddance.

Posted: 7/23/2019 8:50:01 AM EST

[#15]

Quoted:
So economy, much win

Jewelry and accessories retailer Charming Charlie filed for Chapter 11 bankruptcy Thursday with plans to close all of its 261 stores in 38 states.

The filing marks the company's second Chapter 11 case, qualifying as what restructuring industry professionals call a "Chapter 22" bankruptcy.

Charming Charlie closed about 100 stores during its previous bankruptcy, which ended in April 2018. The retailer used that process to cut debts and slash other costs, but "these efforts simply were not sufficient to stabilize" the business and deliver profits, the company said Thursday in a court filing.

The company said it faced "unsustainable operating expenses, including onerous leases" at a time when many brick-and-mortar stores are battling with online retailers.

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Tanking

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Seriously? It's like lamenting the closing of buggy-whip companies at the turn of the 20th century. Brick and mortar retail is dying. Period. Roaring economy or not, retail stores are closing left and right. Has nothing to do with the current (or past) President.

Posted: 7/23/2019 8:51:54 AM EST

[#16]

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Quoted:
Charming Charlie's sells cheap junk costume jewelry from China.

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And puts stores in high rent locations.

Posted: 7/23/2019 8:57:16 AM EST

[#17]

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Sorry Charlie.

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Posted: 7/23/2019 8:58:29 AM EST

[#18]

Mall type stores are a dying breed.

Posted: 7/23/2019 9:01:08 AM EST

[#19]

Daughter's will dislike it. Over never been in there but the wife and kids go sometimes

Posted: 7/23/2019 9:02:44 AM EST

[#20]

Lol. Oh the noes, muh Chinese import shit store is going under because the tariffs work!!!

Posted: 7/23/2019 9:04:44 AM EST

[#21]

In this thread, OP reminds us all that he has no understanding of how business works.

Posted: 7/23/2019 9:09:17 AM EST

[#22]

I've got a great business plan. I'll start a high overhead company that targets a narrow market segment that has little of its own money or purchasing autonomy.

Posted: 7/23/2019 9:12:17 AM EST

[#23]

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Never heard of them, must be regional.

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Either that or they're just in malls. I would never see them if they're hiding in those.

Posted: 7/23/2019 9:15:14 AM EST

[#24]

Never heard of 'em. I thought it might be one of those deep discount junk stores where they sell last years model vacuum cleaners , freight salvaged bullshit , and big overruns of crap that people quit buying at Walmart all of a sudden.

Posted: 7/23/2019 9:30:23 AM EST

[#25]

So?

Businesses fail even in a good economy.

Or are you pushing for enactment of the anti dog eat dog act?

Posted: 7/23/2019 9:34:07 AM EST

[#26]

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Never heard of 'em.

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Posted: 7/23/2019 9:37:00 AM EST

[#27]

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Quoted:
Seriously? It's like lamenting the closing of buggy-whip companies at the turn of the 20th century. Brick and mortar retail is dying. Period. Roaring economy or not, retail stores are closing left and right. Has nothing to do with the current (or past) President.

https://sc.cnbcfm.com/applications/cnbc.com/resources/files/2017/01/05/Retail%20Sales%20Online%20vs%20Department%20Stores.jpg

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Thank you for posting that graph.

While I knew e-commerce had overtaken brick and mortar, I didn't know that it actually happened so long ago.

That's fascinating to me

Posted: 7/23/2019 9:38:58 AM EST

[#28]

OP still laments the demise of Dress Barn.

Posted: 7/23/2019 10:09:55 AM EST

[#29]

The company said it faced "unsustainable operating expenses, including onerous leases"

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The only one I'm aware of locally opened their store in The Rim - a pricey outdoor strip mall.

In that kind of location, when all you're selling is $2 baubles, you gotta sell a hell of a lot of them to turn a profit.

Meanwhile, located in cheaper real estate, Dollar Tree continues to thrive - selling stuff for a buck.

Posted: 7/23/2019 10:15:24 AM EST

[#30]

The wife and daughter will be disappointed.

Posted: 7/23/2019 10:17:18 AM EST

[#31]

Quoted:

Stop trollin!

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Posted: 7/23/2019 10:18:48 AM EST

[#32]

So people are using their money in smarter ways and not buying stupid shit. This is good news.

Posted: 7/23/2019 10:21:02 AM EST

[#33]

Quote History

Quoted:

Seriously? It's like lamenting the closing of buggy-whip companies at the turn of the 20th century. Brick and mortar retail is dying. Period. Roaring economy or not, retail stores are closing left and right. Has nothing to do with the current (or past) President.

https://sc.cnbcfm.com/applications/cnbc.com/resources/files/2017/01/05/Retail%20Sales%20Online%20vs%20Department%20Stores.jpg

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I go the the mall about once a year, probably because of nostalgia reasons.

Good chart but I stopped buying a lot of things locally and started buying online around 1999 when Ebay came on the scene.

I remember shopping for a digital camera in 2003. Did a bunch of research online and found what I wanted including a price of $350 with $12 shipping. Went down to Best Buy and their price was $450. Needless to say I bought online.

I do buy some items at Costco, Walmart, Lowes, etc. but even they are offering online shopping where I can go pick it up or have it delivered without the hassles of lines and people in general.

Posted: 7/23/2019 10:35:17 AM EST

[#34]

Quote History

Quoted:
Rogueboss economics thread

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Trolling, trolling, trolling, got to keep on trolling, troll on!

Posted: 7/23/2019 10:39:35 AM EST

[#35]

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Quoted:
So people are using their money in smarter ways and not buying stupid shit.

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Teenage girls?

Not likely.

Posted: 7/23/2019 11:53:41 AM EST

[#36]

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https://www.AR15.Com/media/mediaFiles/88145/NgLX4jsjeYAJYoFfwAwyeBMOWBg9hf64m86LX73SPoQ__2__jpg-1026977.JPG

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Thor carries a gun? And what the hell happened to his hair?

Posted: 7/23/2019 11:54:41 AM EST

[#37]

Quote History

Quoted:
Charming Charlie's sells cheap junk costume jewelry from China.

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This never seemed like a solid long term plan.

Posted: 7/23/2019 11:57:47 AM EST

[#38]

Quote History

Quoted:
Charming Charlie's sells cheap junk costume jewelry from China.

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And expensive shoes, IIRC. My wife likes that store. There's only one in this area that I know of, and I would guess in the area it's in that store is one of the better ones (The Greene).

Posted: 7/23/2019 11:58:07 AM EST

[#39]

Good news, Real Estate sales are up.....

Posted: 7/23/2019 11:58:31 AM EST

[#40]

Didn’t you do this about the fat lady clothes stores too?
Has zilch to do with trump’s economy and more to do with amazon as well as their pricing and marketing

Posted: 7/23/2019 11:59:37 AM EST

[#41]

Nope. Never heard of them.

Posted: 7/23/2019 12:02:07 PM EST

[#42]

Quote History

Quoted:
38 states isn't regional. If you don't have a pre-teen or tween daughter, though, there's no reason you would know of its existence.

View Quote View All Quotes

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Quoted:

Quoted:
Never heard of them, must be regional.

38 states isn't regional. If you don't have a pre-teen or tween daughter, though, there's no reason you would know of its existence.

Not many of them in Florida. The few that are here are mostly in the Miami Metropolitan Area, Tampa Metroplex, and Orlando area. The tourist spots. Outside of that. There aren't any.

Posted: 7/23/2019 12:04:10 PM EST

[#43]

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Quoted:
Never heard of 'em.

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This.

Posted: 7/23/2019 12:04:32 PM EST

[#44]

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Quoted:
Good news, Real Estate sales are up.....

https://www.AR15.Com/media/mediaFiles/333874/rr__1_-1026132.jpg

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via Imgflip Meme Generator" />

Posted: 7/23/2019 12:07:58 PM EST

[#45]

Speciality retail stores (in malls no less,) are dead men walking. I’m not really familiar with these stores but Zales they’re not. Malls, where these type of stores live, have been shutting down all over for the last 20 years. Amazon absolutely would control this market outside a place where little girls can get their ears pierced.

Retail B&M stores, with few exceptions, are doomed.

Posted: 7/23/2019 12:12:14 PM EST

[#46]

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Quoted:
Good news, Real Estate sales are up.....

https://www.AR15.Com/media/mediaFiles/333874/rr__1_-1026132.jpg

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Now that’s an open house I want to check out...Might put a deposit on it.

Posted: 7/23/2019 12:20:10 PM EST

[#47]

Quote History

Quoted:
Now that’s an open house I want to check out...Might put a deposit on it.

View Quote View All Quotes

View All Quotes

Quote History

Quoted:

Quoted:
Good news, Real Estate sales are up.....

https://www.AR15.Com/media/mediaFiles/333874/rr__1_-1026132.jpg

Now that’s an open house I want to check out...Might put a deposit on it.

Nice, you're quite the cunning linguist.

Posted: 7/23/2019 12:30:44 PM EST

[#48]

Never heard of it, or even seen one.

Posted: 7/23/2019 12:32:49 PM EST

[#49]

I mentioned this to the wife, here's her take as a former Charming Charlie shopper: They sold a bunch of stuff that she now buys from single-person Facebook boutiques, for less money, and with the social aspect of Facebook Live auctions and sales.

Most of those "boutiques" are money-losing hobbies for stay-at-home moms disguised as businesses - so there's no way a big company can make money against thousands of sole proprietors who are also losing money.