Claire's, the ear-piercing mall chain, files for bankruptcy

People walk past a Claire's store, Monday, March 19, 2018, in downtown Chicago. The mall chain that has pierced the ears of millions of teens has filed for Chapter 11 bankruptcy protection. The accessories chain said Monday that its stores will remain open as it restructures its debt. (AP Photo/Kiichiro Sato)
Products are seen through a window of a Claire's store, Monday, March 19, 2018, in downtown Chicago. The mall chain that has pierced the ears of millions of teens has filed for Chapter 11 bankruptcy protection. The accessories chain said Monday that its stores will remain open as it restructures its debt. (AP Photo/Kiichiro Sato)
Shoppers walk out of a Claire's store, Monday, March 19, 2018, in downtown Chicago. The mall chain that has pierced the ears of millions of teens has filed for Chapter 11 bankruptcy protection. The accessories chain said Monday that its stores will remain open as it restructures its debt. (AP Photo/Kiichiro Sato)

NEW YORK — Claire's, the mall chain that has pierced the ears of millions of teens, has filed for Chapter 11 bankruptcy protection.

The accessories chain said Monday that its stores will remain open as it restructures its debt.

It's just the latest retailer to seek bankruptcy protection, close stores or go out of business entirely as more people skip the mall and shop online. Toys R Us, for example, announced last week that it would close or sell all its stores after filing for Chapter 11 bankruptcy protection last year.

Claire's said it is "confident" it will emerge from bankruptcy protection in September, having reduced its debt by nearly $2 billion. It believes it can compete with the shift to online shopping, arguing that its "iconic ear piercing services are unmatched and cannot be replicated online."

Besides the Claire's chain, the company also operates Icing stores. Both sell earrings, lip gloss, iPhone cases and other accessories. Last year, it had more than 4,000 stores around the world.

Claire's, based in Hoffman Estates, Illinois, said it has pierced more than 100 million ears since it began offering the service 40 years ago. The company was founded in the 1960s.

___

This story corrects that the company was founded in the 1960s.

People also read these

2 injured, fire contained on docked Tahoe paddle...

Aug 17, 2016

Fire ripped through the second deck of a docked tourist cruise boat under repair at Lake Tahoe on...

Racers whip across Utah's famed salt flats after...

Aug 17, 2016

Thousands of racers have descended on Utah's famed Bonneville Salt Flats after two years of...

Lava meets the sea, puts on fire-spitting show in...

Aug 18, 2016

For the first time in three years, lava from a volcano on Hawaii's Big Island has reached the...

Rare Tyrannosaurus rex skull arrives at Seattle...

Aug 19, 2016

Paleontologists with Seattle's Burke Museum have unearthed the bones of a Tyrannosaurus rex that...

New Smithsonian offers a view of rich black...

Aug 22, 2016

A sneak peek inside the new Smithsonian National Museum of African American History and Culture...

In Daily Travelogue, we aim to provide rich content for the budget traveler. We only publish blog post that is informative and entertaining to add value to our readers’ user experience.

Contact us: sales[at]dailytravelogue.com