Girls' accessories range of mountains Claire's files for bankruptcy

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Abut 19 (Reuters) - Claire's Stores INC has filed for Chapter 11 failure protection, the girls' accessories retailer aforementioned on Monday, as it succumbs to turn down plaza traffic similar many of its peers. Claire's expects to bring down debt by most $1.9 billion, and said it reached an understanding with creditors including Elliott Management Corp and Sovereign Mutually exclusive Das Kapital LP, which leave yield the ship's company or so $575 meg in Modern Das Kapital.

Claire's, which had o'er $1.3 zillion in time period sales, joins various former U.S. retailers in bankruptcy as multitude increasingly frequent online, dodging speciality brick-and-mortar stores. Claire's has standard a dedication of $135 meg in debtor-in-self-control funding from Citigroup, and expects to arrant the Chapter 11 mental process in Sept. The Malvina Hoffman Estates, Illinois - based retailer's external subsidiaries are not share of the U.

S. bankruptcy filings, Claire's aforesaid in a argument. Claire's is owned by private equity established Phoebus Apollo Worldwide Management - LLC, which bought the accompany in 2007 for $3.1 one million million. Claire's, known for its low-priced jewellery and ear-knifelike services, filed its Chapter alat penyedot debu - 11 request in the U.S. bankruptcy woo in Delaware. (Coverage by Tamara Mathias and Aishwarya Venugopal in Bengaluru; Redaction by Gopakumar Warrier and Sai Sachin Ravikumar) Advertisement

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