Deals
Claire's Bankruptcy Would Accompany a Shift Away From Malls
- Retailer has inked agreements to sell in CVS and Giant stores
- Apollo-owned chain is said to be handing control to creditors
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Claire’s Stores Inc., which is said to be preparing a bankruptcy to ease its crushing debt load, is simultaneously working on a second problem: its deep reliance on malls.
As part of efforts to reposition the accessories chain, Claire’s has been expanding to new arenas. That includes Giant Eagle supermarkets and CVS drugstores, where the company is looking to generate “meaningful” growth.