The kids and teen jewelry retailer is withdrawing its paperwork for an initial public offering, according to a Tuesday filing with the Securities and Exchange Commission. However, according to the filing, it "has decided not to proceed with the offering at this time." The firm had sought to raise as much as $100 million by taking Claire's public. Claire's has been staving off bankruptcy in the face of falling sales and a heavy debt burden. Fellow retailer Neiman Marcus also pulled the plug on its IPO this month, stating that "it is not in its best interests to proceed" right now.

Source: Forbes January 17, 2017 19:43 UTC