Large Retailers Which Have Filed For Bankruptcy
These days, newspapers and even free websites like Facebook and Twitter are rife with groundbreaking and often shocking news—most of which can be downright bad. These can be on anything from politics to crime to even entertainment. Of course, the financial world is not spared.
More and more people are struggling with credit card debts and loans for bad credit are at an all time high. Sadly, even retail giants are feeling the burn. In fact, more and more retailers are now turning to their bankruptcy attorneys for help. Even more sad is the fact that some of these are household brands that we’ve known and loved for decades, so it’s always a shame to hear of them filing for bankruptcy and closing shop.
Claire’s
Claire’s, formerly known as Claire’s Accessories, is an American brand of jewelry and accessories. It was designed to be a lot more accessible to teenage girls and young women. Claire’s was known for imitation of real jewelry made of precious gems like diamonds and creating affordable versions made from cheaper material.
It was also well known for its ear piercing service. Unfortunately, its popularity waned as consumers moved on to fast fashion chains like Forever 21, H&M, and Zara. As a result, Claire’s was already $2.1 billion deep in debt by the end of 2017. Working with their bankruptcy attorney, they have since filed for Chapter 11 in an attempt to find debt relief.
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