U.S. fashion jewelry and accessories budget retailer Charming Charlie LLC is seeking to hire a financial adviser to help find relief from its debt burden, Reuters reported on Wednesday. Such a move would come after the 12-year-old chain failed to establish sufficient scale to compete in a highly fragmented market that has been tested by the rise of internet shopping and rapidly changing consumer tastes. Charming Charlie has interviewed investment banks in recent weeks to hire an adviser that would lead a restructuring process to help address its approximately $200 million debt burden. Charming Charlie, founded in 2004 by entrepreneur Charlie Chanaratsopon, is known for its color-coordinated display of jewelry, handbags and apparel. Its early success put Chanaratsopon, chief executive officer and majority owner of the company, on the Forbes America's Richest Entrepreneurs Under 40 list last year, which pegged his net worth at $425 million. Charming Charlie has had investments from private equity firms TSG Consumer Partners and Hancock Park Associates. The Houston-based retailer has about 350 stores across the United States and internationally, including in Saudi Arabia, the United Arab Emirates and the Philippines. Read more. 

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