Wheat Ridge, Colorado police took a 50-year-old man into custody Wednesday following a two-month search.
Charming Charlie Goes Chapter 11
The Houston-headquartered chain of costume jewelry stores filed bankruptcy Monday.
Wilmington, Del.--Charming Charlie, the Houston-headquartered chain of costume jewelry stores, filed for Chapter 11 bankruptcy protection Monday.
The retailer said it already has entered into a restructuring agreement with the majority of its lenders, and plans to keep the majority of its stores open and its website running during the process while moving forward with previously announced plans to close underperforming locations.
In a company statement, interim CEO Lana Krauter said: “Our goal is to move through this process quickly and emerge as a stronger, more focused organization that is better positioned to succeed in the rapidly changing retail environment.”
Krauter has been serving as interim CEO since Charming Charlie founder Charlie Chanaratsopon, a Houston multimillionaire entrepreneur, stepped down earlier this fall, the Houston Chronicle reported.
According to the Chapter 11 petition, which was filed in U.S. bankruptcy court in Delaware, Charming Charlie LLC has between $100 million and $500 million assets but the same amount in liabilities.
The retailer has between 200 and 999 creditors. Its largest unsecured creditor is a Guangzhou, China-based company called R.Z.X. International Fashion Co Ltd., which is owned about $2.2 million, the Chapter 11 petition shows.
Earlier this month, Charming Charlie announced the launch of a “back-to-basics” strategy that includes shuttering stores that aren’t doing well in the United States, closing its Los Angeles office and cutting staff at its corporate headquarters and distribution center in Houston.
Court documents show that the retailer is seeking permission from the bankruptcy court to close 97 stores in 32 states, about a quarter of its total fleet.
A spokesman said Tuesday that the company is not releasing specific figures on layoffs at this time.
Charming Charlie operates more than 375 stores in the U.S. Canada that sell, in addition to fashion jewelry, handbags, apparel, beauty products and gifts.
Complete information about the company’s restructuring plan can be found online.
Editor's note: This story was updated post-publication to include the number of store closures.
The Latest
PGI partnered with four new and seven returning designers for its annual platinum capsule collection.
Karina Brez’s race-ready piece is a sophisticated nod to the horse-rider relationship.
Meet Ben Claus—grand prize winner of For the Love of Jewelers 2023 Fall Design Challenge.
The men are allegedly responsible for stealing millions in jewelry and other valuables in 43 burglaries in 25 towns across Massachusetts.
“Horizon” invites individuals to explore the limitless possibilities that lie ahead, said the brand.
The jeweler credits its recent “Be Love” campaign and ongoing brand revamp for its 17 percent jump in sales.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The co-founder of Lewis Jewelers was also the longtime mayor of the city of Moore.
Elvis Presley gifted this circa 1967 gold and diamond watch to Dodie Marshall, his co-star in “Easy Come, Easy Go.”
Concerns about rising prices, politics, and global conflicts continue to dampen consumer outlook.
May’s birthstone is beloved for its rich green hue and its versatility.
Jacqui Larsson joins Opsydia with nearly two decades of experience in the industry.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The “Tiffany Céleste” collection reimagines designer Jean Schlumberger’s interpretations of the universe.
Tim Schlick has been promoted from his previous position as COO.
It’s the second year for the event, slated to take place in October in Toronto.
Supplier Spotlight Sponsored by GIA
Sales will be paused while the relocation takes place over the next few months.
“SIS x MISA Denim and Diamonds” is a collaboration between the designer and celebrity stylist Misa Hylton.
The retailer is moving to a newly designed space in the same shopping center.
Gifts that are unique and thoughtful are top of mind this year, according to the annual survey.
The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.