Claire's files for Chapter 11 bankruptcy
![A Claire's store.](https://cdn.mos.cms.futurecdn.net/R225Hq3tVA9NczYRRuLtYQ-1024-80.jpg)
The teen accessories chain Claire's filed for Chapter 11 bankruptcy on Monday and will close 92 stores this month and in April.
The company announced it has reached an agreement with creditors to restructure $1.9 billion in debt, and is "confident" it will emerge from bankruptcy protection in September. The chain has 1,600 locations in the United States, mostly in malls, which don't have the foot traffic they used to due to competition from big box stores and online merchants. Just remember this: You may be able to buy glittery nail polish and bejeweled headbands online, but good luck getting Alexa to pierce your ears.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
![https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/jacafc5zvs1692883516-320-80.jpg)
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
Sign up for Today's Best Articles in your inbox
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.
-
The week's best photos
In Pictures A royal entrance, a rescued boar, and more
By Anahi Valenzuela, The Week US Published
-
Jonathan Sumption shares his favourite books
The Week Recommends The medieval historian recommends works by Edward Gibbon, Johan Huizinga and others
By The Week UK Published
-
Scientists want to create an AI virtual cell
Under the radar Generative AI could advance medical research
By Devika Rao, The Week US Published
-
US port strike averted with tentative labor deal
Speed Read The strike could have shut down major ports from Texas to Maine
By Peter Weber, The Week US Published
-
Biden expected to block Japanese bid for US Steel
Speed Read The president is blocking the $14 billion acquisition of U.S. Steel by Japan's Nippon Steel, citing national security concerns
By Peter Weber, The Week US Published
-
Judges block $25B Kroger-Albertsons merger
Speed Read The proposed merger between the supermarket giants was stalled when judges overseeing two separate cases blocked the deal
By Peter Weber, The Week US Published
-
Rupert Murdoch loses 'Succession' court battle
Speed Read Murdoch wanted to give full control of his empire to son Lachlan, ensuring Fox News' right-wing editorial slant
By Peter Weber, The Week US Published
-
Bitcoin surges above $100k in post-election rally
Speed Read Investors are betting that the incoming Trump administration will embrace crypto
By Peter Weber, The Week US Published
-
Enron mystery: 'sick joke' or serious revival?
Speed Read 23 years after its bankruptcy filing, the Texas energy firm has announced its resurrection
By Peter Weber, The Week US Published
-
US charges Indian tycoon with bribery, fraud
Speed Read Indian billionaire Gautam Adani has been indicted by US prosecutors for his role in a $265 million scheme to secure solar energy deals
By Peter Weber, The Week US Published
-
Boeing machinists approve contract, end strike
Speed Read The company's largest union approved the new contract offer, ending a seven-week strike
By Peter Weber, The Week US Published