Ear Piercings Are the Latest in the Bankruptcy Trend — Claire’s Files for Bankruptcy
And it seems like the Bankruptcy Train just won't stop. This time, it's Claire's Accessories who is falling victim to bankruptcy.
Just for those of you who don't know, Claire's Accessories is where over 100 million ears have been pierced since they opened in 1978. Several generations have walked through their doors.
They filed Bankruptcy on Monday, March 19, 2018, as a Chapter 11. This means they're attempting to restructure their debt. Some stores could close, and some people could lose their jobs.
According to The Chicago Tribune:
The company filed for bankruptcy Monday and said it reached an agreement with creditors including its private-equity backer, Apollo Global Management, to restructure around $1.9 billion in debt. Its plan to survive rests on its reputation for trendy merchandise and a unique service that it says can't be replicated by shopping online: ear piercing.
There's no word on the fate of the Claire's Accessories location in the South Plains Mall, but at the moment, it's business as usual for the chain.
And as soon as we know something, we will let you know.