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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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If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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