Claire’s Accessories on brink of bankruptcy as debt piles up

| March 12, 2018

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US-based accessories retailer Claire’s is reportedly on the verge of collapse as it prepares to file for bankruptcy. According to Bloomberg, the retailer is sitting on around $2 billion (£1.44 billion) worth of debt, more than 10 times a key measure of its annual earnings.The move to file for bankruptcy comes ahead of a $60 million (£43.25 million) interest payment which is due on March 13.A further $1.4 billion (£1.01 billion) of its debt is set to mature next year.

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For men who want to look better but don’t like to shop, or don’t have the time, Trumaker provides a personalized product and shopping experience built to fit them and their lifestyles. We started in San Francisco and have since expanded our fresh approach to shopping across the country. Our business has attracted the financial backing of top-tier venture capital firms including Javelin Venture Partners, RRE Ventures and Box Group.

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