(Nexstar) – More than a dozen clair stores, as well as some icing places, are ready to be closed in the coming weeks. Filed for pre -bankruptcy,
Illinois -based Claire, which also operates the icing, announced on Wednesday that he was voluntarily starting chapter 11 insolvency proceedings “to maximize the value of his business.”
Claire CEO Chris Cramer said, “This decision is difficult, but a necessary.” A press release“Increased competition, consumer expense trends and changes going away from brick-and-mortar retail, as well as pressure from debt obligations and” macroeconomic factor “.
“We remain in active discussion with potential strategic and financial partners and are committed to complete our review of strategic options,” he said.
In the same press release, the company said that Clair’s store “will be open.” court document The same day filed, however, identified 18 stores – five icing stores and 13 Clare locations in 13 states for a possible closure.
These shops were earlier identified as places that “should be taken out,” the court documents.
Alabama
- 3518 Eastdale Mall, Montgomery
California
- 8042 Galleria in Tyler, Rivaraside (Ising)
- 5586 Nupark Mall, Newark
Illinois
- 5307 Ford City Mall, Chicago
Massachusetts
- Linfield, 3358 Market Street in Linfield
Michigan
- 5896 Bay City Town Center, Bay City
- 3422 Woodland Mall, Grand Rapids (Iceing)
Minnesota
- 6684 Northern Mall, Blane
new Jersey
- 6373 Livingstone Mall, Livingstone
New york
- 8456 Greece Ridge, Rochester (Iceing)
Pennsylvania
- 5406 Union Town Mall, Union Town
Tenasi
- 5368 peaks in Turkish Creek, NOXVELIL
Texas
- 6252 shops in Highland Village, Highland Village
- 8615 Mall of Abiline, Abiline (Iceing)
Uta
- 6705 Provo Town Center, Provo
- 6233 Junction Commons, Park City
- 8668 University Orem, Orem (Ising)
Washington
- 722 Woodinville Plaza, Woodenville
Store closing sales are expected to end later in compared to 7 September, whether the filing should receive approval.
Claire is famous for its affordable jewelry and goods as well as its piercing service, which was earlier filed for insolvency conservation in 2018. As CNBCThe retailer is now facing a uniform burden, ie a steep debt load. Tariff and increased competition are now adding under pressure.
Currently, Claire has a loan of about 500 million dollars and $ 1 billion between $ 1 billion and $ 10 billion in property and liabilities. Citing court documents, CNBC’s report is discovering the sale of its assets of Claire.
This year included other retailers filed for bankruptcy At home And JudgeFellow mall-centric stores, such as HotDozens of shops have also been forced to close.
