💨 Abstract
Claire's, a mall-based retailer known for ear piercing, has filed for Chapter 11 bankruptcy protection due to high debt and shifting consumer preferences. This is Claire’s second bankruptcy since 2018. The company will keep stores open while exploring strategic options. Claire's has faced intense competition from online retailers like Amazon, as well as increased costs from tariffs. Neil Saunders of GlobalData said the bankruptcy was not surprising, citing high debt, increased competition, and rising costs.
Courtesy: WTOP Staff
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