Monday, March 19, 2018

47 235 | Claire’s Files for Chapter 11 Bankruptcy Protection, March 18, 2018


Claire's struggles stem from a deal it struck more than a decade ago that left it burdened with debt.Claire's has filed for bankruptcy. The hub for ear piercings at malls across America is the latest retailer to succumb to its massive pile of debt.

Claire's, which says it has pierced more than 100 million ears around the world, reached a restructuring agreement with its creditors. In a Chapter 11 bankruptcy filing on Monday, Claire's said it will reduce its debt by $1.9 billion. It held $2.1 billion in debt at the end of 2017.
 
On a Masonic logo with the square and compass, Summer Solstice (left compass) and Winter Solstice (right compass) are angled at 23.5 degrees
23.5 + 23.5 = 47

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