Demolition and construction didn’t wait for the spring thaw. (Maureen Wallenfang/USA TODAY NETWORK-Wisconsin)
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Claire’s faces the food court in the Fox River Mall.(Photo: File)
Claire’s Stores filed for Chapter 11 reorganization Monday in the U.S. Bankruptcy Court for the District of Delaware.
The company did not indicate it has plans to shut any of its more than 5,300 U.S. stores, franchise and concession locations.
It has two small accessories boutiques in Grand Chute’s Fox River Mall: Claire’s facing the food court and Icing on the JCPenney wing.
Claire’s is known for ear piercing and fashion jewelry, accessories and beauty products for young women, teens, tweens and girls.
The company said in a release it will use the Chapter 11 filing to reduce its debt by $1.9 billion by September.
A USA TODAY analysis shows it “follows a trend of retailers aiming to use bankruptcy to restructure before it’s too late.”
More: Claire’s Stores jewelry chain files for Chapter 11 bankruptcy protection
“Unlike other retailers that have come before it, Claire’s has commenced its restructuring process form a position of unique operational strength,” the company said in a statement.
Claire’s reported net income of nearly $29 million in fiscal 2017 ended Feb. 3.
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