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Claire’s, the ear-piercing mall chain, files for bankruptcy, Canadian stores spared
NEW YORK – Claire’s, the jewelry chain that has pierced the ears of millions of teens, has filed for Chapter 11 bankruptcy protection in the U.S. but its Canadian and European stores are not involved.
The company said Monday its stores will remain open as it restructures its debt.
A Claire’s spokesperson told The Canadian Press that the fashion and jewellery retailer’s European and Canadian businesses are not involved in the U.S. Chapter 11 cases, and will continue operating without interruption.
Claire’s is the latest retailer to seek bankruptcy protection, close stores or go out of business entirely.
Toys “R” Us announced last week that it would close or sell all its stores after filing for Chapter 11 bankruptcy protection last year.
Privately-held Claire’s says it expects to emerge from bankruptcy in September.
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