THE COMPANY behind a popular accessories company has filed for bankruptcy protection in the US.
Claire’s Accessories, which has stores in Blackburn, Burnley and Chorley, announced bankruptcy on Monday becoming the latest retailer to fall short to the online shopping revolution.
Despite the latest announcements, the retailer has sought to reassure customers in the UK that its operations here will not be affected, as it is thought international subsidiaries are not part of the US bankruptcy filings.
The company, which trades from 378 stores and 128 concessions in the UK, has filed for bankruptcy in the US in a bid to reduces its debt by 1.9 billion Us dollars.
Ron Marshall, Claire’s chief executive said: “We will complete this process as a healthier, more profitable company, which will position us to be an even stronger business partner for our suppliers, concession partners and franchisees.”
Claire’s is owned by private equity firm Apollo Global Management, which paid 3.1 billion dollars for the company in 2007.
The news comes just weeks after major retailer, Toys R Us, announced that both it stores across the UK and US would start closing.
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