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Charming Charlie Bankruptcy Plan Effective

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Charming Charlie’s Fourth Amended Joint Chapter 11 Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The U.S. Bankruptcy Court confirmed the Plan on April 3, 2018.

A corporate release notes, “Through this process, Charming Charlie is emerging with a substantially improved financial position and a sustainable capital structure to support its Back-to-Basics Strategy.” THL Credit is now the majority equity holder in the Company.

Christopher Flynn, C.E.O. of THL Credit, comments, “We are pleased the creditors were able to come to an agreement that positions Charming Charlie with a new management team, a stronger balance sheet and an improved retail footprint.”

This privately-held accessory retailer filed for Chapter 11 protection on December 11, 2017, listing more than $100 million in pre-petition assets.

Read more retail bankruptcy news.

The post Charming Charlie Bankruptcy Plan Effective appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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