AMERICAS DISTRESS DAILY: Retailer Claire’s Considers Bankruptcy

Claire’s Stores is considering a potential bankruptcy for its US operations due to weak demand, higher import costs, and a heavy debt burden, according to people with knowledge of the matter.

• The company, which has struggled to turn around its fortunes following a 2018 bankruptcy, has a roughly $477 million term loan due in December 2026 that is quoted at around 39 cents on the dollar.
• The retailer has received interest for its European assets and is working with Houlihan Lokey to explore a potential sale of all or part of its operations.

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