I’m sure a lot of you all got your ears pierced at Claire’s, or perhaps picked up some of the latest fashion accessories from the store. Well, you better hold on to those pre-teen memories #Roommates because the store is reportedly planning on filing for bankruptcy in the coming weeks, Bloomberg reports.
The chain is preparing a filing that would result in lenders taking over the company. Claire’s reportedly has a debt load of $2 billion.
According to Fortune, if a chapter 11 filing does happen, it would allow the company to continue operating as it works on a turnaround plan. Unfortunately, that’s not a guarnteee the company would stay in business.