Claire's is reportedly going to file for bankruptcy

If you were a pre-teen in the late 90s/early 2000s then Claire’s was your second home. Where else would you get your jelly bracelets, Beanie Babies and butterfly clip? Oh and get your ears pierced!

 

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Well, the pre-teens of the 2010s aren’t going to have the chance to spend their entire allowance there anymore because Bloomberg is reporting that Claire’s is going to file for bankruptcy withing the month.

 

UNITED STATES - DECEMBER 01: Anise Johnson browses a selection of earrings hanging in the front window of a Claire's store on Friday, December 1, 2006 in New York. Claire's Stores Inc., the retailer of jewelry for teens, said it hired Goldman Sachs Group Inc. to help it explore a possible sale of the company. (Photo by Daniel Acker/Bloomberg via Getty Images)

UNITED STATES - DECEMBER 01: Anise Johnson browses a selection of earrings hanging in the front window of a Claire's store on Friday, December 1, 2006 in New York. Claire's Stores Inc., the retailer of jewelry for teens, said it hired Goldman Sachs Group Inc. to help it explore a possible sale of the company. (Photo by Daniel Acker/Bloomberg via Getty Images)

 

According to The Hollywood Reporter, “the retailer has suffered thanks to decreased in-store foot traffic” and “will likely file for Chapter 11 bankruptcy, which will allow it to continue operating its approximately 3,000 stores while keeping creditors at bay until a turnaround plan can be implemented”.

 

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