ALGONQUIN – The Charming Charlie in Algonquin Commons is closing.
The store, 2120 S. Randall Road, displays signs that list sales for 25 percent to 40 percent off merchandise.
The accessories chain store filed for Chapter 11 bankruptcy in December and entered a restructuring agreement that kept most stores open through the holiday season, according to a news release.
Of the 97 stores the company sought court approval to close, six already have closed in Illinois – Lombard, South Barrington, Mount Prospect, Vernon Hills, Wheaton and Killdeer.
It was said in December that 75 more locations could close at a later date. The Algonquin location is one of 12 stores that is part of a second phase of closures, according to bankruptcy court filings.
The company said it is returning to a “back-to-basics” strategy, and it announced plans to close underperforming stores, close its Los Angeles office and cut workforce at its headquarters.
“We are confident that by reducing the size and scale of our business, we can focus on the core strengths that make the company successful,” interim CEO Lana Krater said in the release.