Claire's Gets Interim Access To $105M Bankruptcy Financing

Law360, Wilmington (March 20, 2018, 9:14 PM EDT) -- Bankrupt jewelry and accessories retail chain Claire’s Stores Inc. received interim approval Tuesday in Delaware to tap into $105 million of its larger proposed debtor-in-possession financing package, which will help the company maintain its supply of inventory while it navigates through the Chapter 11 process.

During a first-day hearing in Wilmington, Claire’s attorney Ray C. Schrock of Weil Gotshal & Manges LLP told the court the company was over-leveraged, but that its prospects were solid even in the face of a down-trending retail sector because of...
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