Gillian Tan, Columnist

Apollo Tries Self-Help at Claire's

The firm's purchases of the jewelry chain's debt buys time, but the retailer needs more than that for a turnaround.

June 1, 2016 at 6:18 PM UTC

Gillian Tan is a senior reporter covering finance and alternative asset classes including real estate, infrastructure, private equity, private credit, venture capital and sports business. She previously wrote an opinion column for Bloomberg and was a reporter at the Wall Street Journal. She is a qualified chartered accountant.

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Apollo Global Management is reaching back into its playbook.

The private equity investor has been buying up bonds of Claire's Stores, the jewelry chain it acquired in 2007, Bloomberg News reported late Tuesday. It's a move that lets Apollo better control the company's fate, which has been bleak since the firm's buyout saddled it with more than $2.3 billion of debt.