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Claire's Files For Chapter 11 Bankruptcy

Going forward, Claire's is hoping its ear piercing service will help it stay afloat.
Posted at 9:22 PM, Mar 19, 2018

On Monday, teen jewelry store Claire's filed for Chapter 11 bankruptcy. 

According to court documents, by September the company plans to reduce its debt by nearly $2 billion. During this time, all of its approximately 1,600 U.S. stores will remain open.

Like other retailers such as Toys R Us, an increase in online shopping has caused a decrease in the mall chain's sales.

Going forward, the company's business model will continue to rely on a unique service it's offered for 40 years, and something customers can't get online: ear piercing.