As U.S. tariffs threaten higher import costs and increased competition, budget jeweler Claire’s Stores Inc. is seeking a sale. The retailer has a loan of more than $500 million due next year and reportedly opted to delay interest payments in an effort to sustain its cash.
Following the March departure of CEO Christine Hunsicker from CaaStle in response to allegations of financial misconduct, missed payments and fraud, the fashion startup has filed for Chapter 7 bankruptcy. The filing says the company had between 200 and 999 creditors and $10 million to $50 million in assets and liabilities.
Elliott-Backed Claire’s Eyes Sale as Tariffs Hit Budget Jeweler [Bloomberg]
CaaStle Files for Chapter 7 Bankruptcy, Setting Up Liquidation [WWD]
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