Raise the alarms, because Claire's, everyone's favorite store to buy earrings and tiaras, is reportedly filing for bankruptcy. That's right, our mall experience will never be the same.
Nothing is official yet, but reports are saying that the company has filed for a Chapter 11 bankruptcy which will allow them to continue operating while they try to come up with a plan. They are apparently in debt by over $1.4 billion and with a $60 million interest payment due on March 13th.
While the business side of things is not really something that we understand, the shopping aspect is very much something we remember doing a lot as a preteen. Claire's was the place to go when you needed your ears pierced. It was the first store you visited when your mom dropped you off in the mall. It was how you discovered those little spikey ball earrings that were super cool for a little while.
Thinking about it closing is kind of heartbreaking, but there is still hope. Their creditors have bought them out, so hopefully they can help relieve some of the financial pressure on them for the foreseeable future until the next generation of teens learns to love Claire's as much as we did.
There were so many things that were only available at Claire's that just made our teen lives so much better. We can't let our favorite mall stop die out, we've got to remember all the good things it has given us over the years.