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Claire's Opens $1.9B Ch. 11 In Delaware To Rework Debt

Law360 (March 19, 2018, 11:40 AM EDT) -- Blaming an over-leveraged, $2.1 billion debt load and a tough retail environment, Claire's Stores Inc. drove its 7,500-location beauty, accessories and ear piercing business into Delaware bankruptcy court on Monday, proposing to restructure $1.9 billion in obligations.

Claire's filed for bankruptcy in Delaware on Monday with a pre-negotiated restructuring agreement seeking to rework nearly $2 billion in obligations. (Getty)

The Chapter 11 filing, which includes a dozen affiliates, arrived with a pre-negotiated restructuring agreement with an ad hoc group of first lien creditors, led by Elliott...
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