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Stock impact report

Claire's, with 26 NJ locations, files second bankruptcy in a decade [USA TODAY]

Simon Property Group, Inc. (SPG) 
Last simon property group, inc. earnings: 2/4 07:30 am Check Earnings Report
US:NYSE Investor Relations: investors.simon.com
Company Research Source: USA TODAY
The chain, ubiquitous at malls in New Jersey and across the country, filed for Chapter 11 bankruptcy protection in Delaware federal court, with CEO Chris Cramer citing “increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail.” The 64-year-old chain had a $496 million loan due in December 2026, CNN reported , and did not pay rent at certain unprofitable stores, according to Bloomberg News It had initially filed bankruptcy in 2018, and as a result of that process was able to eliminate $1.9 billion in debt and was taken over by creditors Elliott Management Corp. and Monarch Alternative Capital. Story continues below photo gallery The North America stores will remain open while Claire's “continues to explore all strategic alternatives,” including a possible sale, the company said in an Aug. 6 statement. Claire's operates 2,750 stores across North America and Europe, including 26 in New Jersey, according to its website According Show less Read more
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