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On the Verge of Bankruptcy, Claire’s Needs a Big Back-to-School Season

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Teen jewelry retailer with 3,000 stores is drowning in debt.

Claire’s Stores is hoping for a strong back-to-school season to lift the bottom line of the teen jewelry and accessories retailer, which is “loaded with so much debt that sucks every penny of profit off its books,” the New York Post writes. The article says that Claire’s is discounting to move product during back-to-school, the second-busiest time of year for the 3,000-store chain. But even with a surge in sales, the retailer’s outlook is bleak. “The situation depends on the real cash flow in the next couple of months,” an anonymous source told the Post. “You have to think more likely than not it will result in bankruptcy.”

Read more at the New York Post

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