Claire's, Well-Known Mall Ear Piercer, Files for Bankruptcy
Claire’s, the mall jewelry store known for its in-store ear piercings, is the latest retailer to file for bankruptcy.
In a Chapter 11 bankruptcy filing, the company said it plans to reduce $1.9 billion in debt. According to a press release, Claire’s stores will remain open as the company restructures its debt.
Claire’s said it’s “confident that, through the restructuring process, Claire’s will cement its position as one of the world’s leading specialty retailers of fashionable jewelry, accessories, and beauty products.”
The company said it continues to be the world’s leading ear piercer and won't fall victim to online competition, since you can’t pierce your ears online.