Accessories retailer Charming Charlie LLC won court approval to put its bankruptcy reorganization plan to a creditor vote following negotiations that led to a settlement with unsecured creditors, WSJ Pro Bankruptcy reported. Bankruptcy Judge Christopher Sontchi yesterday approved moving forward with the plan. The mall-based retailer sought chapter 11 protection in December after months of “flying the plane way too close to the ground,” one of the company’s attorneys previously said in regards to Charming Charlie’s dwindling cash balance. Like many other retailers that sought bankruptcy protection in 2017, Charming Charlie has blamed its financial woes on the major challenges facing the overall industry — namely the consumer shift to online shopping.
