Teen Brand Claire’s Just Filed For Bankruptcy In The US

Our favourite teen retailer, Claire’s Stores Inc. has filed for chapter 11 bankruptcy in the US – Canadian and European stores were spared. According to MarketWatch, it says it plans to lower its debt by about $1.9 billion. For all those 90s kids out there, you know how real the love was for this store. Where is every teenager going to get their ear’s pierced now?

A post shared by ClairesStores (@clairesstores) on

The privately-held company made a statement saying it expects the chapter 11 process to be completed in September. Their stores will remain open as it restructures its debt. Now, we will have to just have to wait and see what will happen to our old flame, Claire’s. Let’s hope the Canadian stores don’t get affected!

Source: MarketWatch.com
Featured Image: Instagram/@clairesstores

Do you still shop at Claire’s? Let us know in the comment section.

Posts you might be interested in:

What Will Happen To Toys ‘R’ Us Canada?
Sephora Bans Customers For Too Many Returns
This Famous Candy Store Just Opened in Toronto
Israeli Beauty Brand is Coming To Toronto
Customers Aren’t Happy With Dollarama’s Return Policy