Claire’s parent company files Chapter 11
Claire’s Stores Inc., the Illinois parent company of accessories retailer Claire’s that is located in the Crossroads Mall in Fort Dodge, announced Monday that it is attempting to restructure its debt by filing for Chapter 11 bankruptcy.
In a press release, the parent company said the filing does not affect any international Claire’s outlets, and it vows to keep offering service to its domestic clients.
The firm says it will “continue delivering outstanding service to millions of customers across its worldwide network of stores without interruption.”
A local Claire’s employee declined to comment.
Claire’s Stores Inc. and its subsidiaries reported a net income of $53.899 million in the 12 months that ended on Jan. 28, 2017.
It reported a net income of $28.656 million for the 12 months ending Feb. 3, 2018.
Claire’s Stores Inc. describes itself as “one of the world’s leading specialty retailers of fashionable jewelry and accessories for young women, teens, ‘tweens,’ and girls ages 3 to 35. The company operates through its two store brand names: Claire’s and Icing,” the press release states.
It sells products in more than 7,500 locations in 45 countries.
One of the company’s focuses is ear piercing. According to the company, it has been piercing ears since 1978. That translates to more than 100 million ear piercings worldwide, it said.