Claire’s Declares Bankruptcy (Rumours Were True)

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Claire’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 it’s Canadian and European counterparts have not committedΒ to that same course of action.

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On Monday Claire’s said it will keep its doors open while it restructures its debt.

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

Claire’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 Claire’s claims it will be out of bankruptcy by September.

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