Claire’s Preparing to File for Bankruptcy: Report

Claire’s Stores Inc., the fashion accessories chain that has apparently pierced more than 100 million ears since 1978, reportedly plans to file for bankruptcy.

The company is about $2 billion in debt, according to a Bloomberg report. Seeking Chapter 11 protection would be a way to keep stores open, at least for now, while executives figure out a longer-term plan.

The company did not respond to requests for comment from Bloomberg and Today.com. 

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