Troubled accessories retailer Charming Charlie LLC said it would close a number of its stores ahead of the holiday season, WSJ Pro Bankruptcy reported. The Houston-based chain announced the store closings on Friday as part of a “back-to-basics strategy,” which includes closing its Los Angeles office and cutting staff at its corporate support and distribution centers. The company will likely close approximately 100 of its 375 stores in the coming weeks, a person familiar with the matter said, adding there could be more closures in the future. Charming Charlie has been on the hunt for a loan in recent months as it faces a cash crunch. It has been looking to secure a term loan in the $15 million to $20 million range, they added.
