New reports speculate about the situation of the accessories chain Claire’s. In the United States, it is assumed that the trading company focused on teenagers is considering an bankruptcy application according to the U.S. renovation procedure Chapter 11. In Great Britain, consultants are said to have been appointed to accompany a rescue plan.
The reports appear weeks after rumors about a possible sale of the company in the USA. The Bloomberg news agency reported that a sales talk for potential buyers: on the inside.
Bloomberg now reports that Claire’s is considering applying for bankruptcy protection under the direction of Houlihan Lokey Inc. and Alvarez and Marsal. The two companies are probably working on a corresponding deal.
The British newspaper Telegraph reports that in Great Britain there were restructuring experts: inside of Interpath, investors who are willing to save the company’s British business in whole or in part.
The news has fueled speculation that Claire’s could ultimately have a geographical division of the business. This could lead to far -reaching shop closures.
Red numbers
Claire’s has long struggled with financial difficulties. In the past three years, the company has accumulated losses of 25 million British pounds (29 million euros) and wrote red figures in the financial year until March 2024. The pressure has increased since then because the retailer is confronted with an outstanding loan of $ 480 million (411 million euros), which must be repaid in December 2026.
The company had already experienced bankruptcy of its US business in 2018. The then owner Apollo Global Management had transferred his assets to creditors: inside.
Claire’s currently operates around 2,750 branches in seventeen countries and is also represented in a number of department stores in the USA and Europe.
Fashionunited asked Alvarez and Marsal and Claire’s statement. Interpath and Houlihan Lokey rejected a statement.
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