US Edition
Claire's, Known for Piercing Millions of Teens' Ears, Files for Chapter 11, 2nd Time Since 2018
UNITED STATES, AUG 6 – Claire's seeks to monetize assets and explore strategic partnerships while maintaining operations and employee commitments during bankruptcy proceedings, CEO Chris Cramer said.
- Wednesday saw Claire's initiate proceedings under the Companies' Creditors Arrangement Act in the Ontario Superior Court of Justice to maximize business value.
- Over recent years, Claire's faced debt challenges and retail shifts, and Chris Cramer said the move was `difficult, but a necessary one.`
- To support liquidity, Claire's U.S. intends to seek approval for consensual use of cash collateral, and through first-day motions, will continue paying employees and keeping North American stores open.
- In parallel, Claire's Canada plans to initiate CCAA proceedings in the Ontario Superior Court of Justice to monetize assets and review strategic options, with active discussions with potential strategic and financial partners.
- With a global footprint, Claire's faces pressure from online rivals like Amazon, Temu, and Shein amid mall traffic declines.
40 Articles
40 Articles
Associated Press News
Claire's, known for piercing millions of teens' ears, files for Chapter 11, 2nd time since 2018
Mall-based teen retailer Claire’s, known for helping to usher teens into a key rite of passage _ ear piercing _ but now struggling with a big debt load and changing consumer tastes, filed for Chapter 11 bankruptcy protection.
Mallrat haven Claire's files for bankruptcy
Claire's, offering inexpensive jewelry and cosmetics for teenagers in the malls of America and Europe, is bankrupt. Of the many stores (2750, according to Claire's, down from more than 4,000 the last time it declared bankruptcy in 2018) only 18 will close immediately, but the list will grow as it wrangles out of leases. — Read the rest The post Mallrat haven Claire's files for bankruptcy appeared first on Boing Boing.
PR Newswire
Denver GazetteClaire's Initiates Voluntary Chapter 11 Proceedings to Maximize Business Value
/PRNewswire/ -- Claire's Holdings LLC and certain of its U.S. and Gibraltar-based subsidiaries (collectively "Claire's U.S."), the operator of Claire's and...
Chad Ochocinco Devastated After Claire's Files For Bankruptcy - theJasmineBRAND
Chad Ochocinco Devastated After Claire’s Files For Bankruptcy Somebody check on Ocho! Chad Ochocinco Johnson is mourning the downfall of one of his favorite stores. After reports surfaced that Claire’s had filed for bankruptcy, the former NFL star reacted on Twitter with a single heartbroken emoji: ?. The news struck a personal chord. In a 2023 interview on “Club Shay Shay,” Ochocinco proudly revealed, “Never bought real anything when I was play…
Coverage Details
Bias Distribution
- 66% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
