renegadebusdallas.com
renegadebusdallas.com April 23, 2018


Mall Stores Are Dying - Why Claire's Says Its Bankruptcy Will Be Different

20 March 2018, 04:15 | Lionel James

Chris Ratcliffe Bloomberg via Getty Images

Claire's Bankruptcy Lead

Claire's, which had over $1.3 billion in annual sales, joins several other USA retailers in bankruptcy as people increasingly shop online, shunning specialty brick-and-mortar stores.

The company in a statement said it was confident it would come through the restructuring process, and plans to come out of Chapter 11 in September with more than $150 million in cash. And the US bankruptcy filing pertains only to Claire's stores in America, not the company's global subsidiaries.

In fact, while Claire's has been closing stores, it expects to open 4,000 concessions (stores within stores) in 2018, Claire's said on Monday. It said it can compete with the shift to online shopping, arguing that its "iconic ear piercing services are unmatched and cannot be replicated online".

Anchorage is home to three different Claire's stores; one is located in the Dimond Mall, one is located in the 5th Avenue Mall, and one is located in the Northway Mall.

In the Lehigh Valley, the chain operates stores inside the Lehigh Valley Mall, South Mall, Promenade Shops at Saucon Valley and Palmer Park Mall.

India wins with Dinesh Karthik's last ball six: Nidahas Final 2018
Fast bowler Mustafizur Rahman gave away just one run in the 18th over and took the wicket of Pandey to give Bangladesh the edge. India needed five runs of the last ball and Dinesh Karthik smashed a remarkable six over cover off Soumya Sarkar's bowling .

A Claire's spokesperson told The Canadian Press that the fashion and jewellery retailer's European and Canadian businesses are not involved in the U.S. Chapter 11 cases, and will continue operating without interruption.

The retail chain said it was entering the restructuring process from "a position of unique operational strength".

Creditors led by Elliott Management and Monarch Alternative Capital have agreed to provide the company with about $575 million of new capital.

Bon-Ton Stores, which owns Younkers, also filed for Chapter 11 protection last month.



Other News

Trending Now

Apple Is Planning Its First Education-Related Event Since 2012
It's an unusual locale for Apple as the company typically hosts media events closer to home in California. The company has sent out invitations to an event to be held on 27 March 2018 at a Chicago high school.

Dzeko strikes to take Roma into Champions League last eight
They came close twice to taking the lead, firstly, when AS Roma avoided putting the ball in their own from a resulting corner. SHAKHTAR DONESTK star Facundo Ferreyra sparked a mass brawl in their loss to Roma after shoving a ball boy over.

As Russia Votes, Reports of Ballot Stuffing, a Hack
Earlier on Sunday, the polling stations opened in Moscow and across central Russian Federation for the presidential elections. Russia's Central Election Commission also said it was looking into claims of ballot stuffing in Siberia's Kemerovo region.

Panthers lose Tyrann Mathieu sweepstakes to Texans
In five seasons with the Cardinals , Mathieu recorded 305 tackles, 41 passes defended 11 interceptions and four forced fumbles. Only 25-years-old, Mathieu still has a lot left in the tank and should be a player of huge impact for several more years.

Republicans warn Trump over Mueller's Russian Federation inquiry
When asked, Strong did not comment directly on whether Congress should advance legislation to protect Mueller. And Mueller himself is a Republican.

UMBC Player Compares NCAA Upset Win to Fortnite Victory
In 1982, the Cavaliers , then ranked first in the country, fell to little-known Chaminade during a holiday tournament in Hawaii. Over on the women's side, that Mississippi State last-second win over UConn in last spring's Final Four is way up there.

NPC 2018: China's parliament unanimously re-elects Xi Jinping as president
After his re-election, Xi Jinpng took public oath of allegiance to the Constitution in the Great Hall of the People in Beijing . Wang's predecessor when he stood for Vice Presidency during the 2013 NPC session. -China trade issues in his new role.

Ohio State Wrestling Falters In The NCAA Wrestling Tournament
I felt good about the second match and I feel even better about the third match if we end up competing against each other. In order to get to the Sweet 16, they would have to defeat 11th-seeded Creighton and then No. 3 UCLA.

The actors portraying Meghan Markle and Prince Harry look just like them
She had attended pre-Christmas meal at Buckingham Palace and stayed with them at Sandringham over the holiday season in December. At a Privy Council meeting on Wednesday, the monarch made the declaration and will have signed a Great Seal of the Realm.

TV3 Release Spine-Tingling Promo Ahead Of Ireland's Grand Slam Clash
Joey Carbery's conversion - on for Sexton while the Ireland starter was undergoing a HIA - left the half-time score at 21-5. England's first maul was halted, but Ireland were guilty of hitting a lifter early and the home side got another chance.