Mainstay institutions within malls across America are entering a new chapter in life: bankruptcy. Cheap jewelry giant Claire’s filed for Chapter 11 on Monday, hoping to rid itself of substantial debt, the company announced. Claire’s maintained that it was approaching the bankruptcy filing from a position of strength, using Chapter 11 to restructure its budget sheet, not its operations. Claire’s plans to continue its store operations per usual throughout the Chapter 11 process. And the U.S. bankruptcy filing pertains only to Claire’s stores in America, not the company’s international subsidiaries.

Source: Huffington Post March 19, 2018 20:26 UTC