The jewelry retailer Claire’s announced it filed for Chapter 11 bankruptcy. This is the second time the business has filed; the first was back in 2018.
In a release, the company shared,”This decision is difficult, but a necessary one. Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders,” said Chris Cramer, CEO of Claire’s. “We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives.”…