Claire’s Declares Bankruptcy (Rumours Were True)

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Claireโ€™s, the jewelry chain that pierced the ears of children every where has filed for Chapter 11 bankruptcy protection in the U.S. and as of yet itโ€™s Canadian and European counterparts have not committedย to that same course of action.

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On Monday Claireโ€™s said it will keep its doors open while it restructures its debt.

A Claireโ€™s spokesperson told The Canadian Press that the fashion and jewellery retailerโ€™s European and Canadian businesses are not involved in the U.S. Chapter 11 cases, and will continue operating without interruption.

Claireโ€™s is one of many retailers to have filed for bankruptcy protection, close stores, or go out of business entirely in recent history.

Privately-held Claireโ€™s claims it will be out of bankruptcy by September.

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