March 20, 2018 / 9:51 PM / a month ago

Court approves retailer Claire's $135 million bankruptcy loan

Jewelry and accessories retail chain Claire’s Stores Inc received initial court approval on Tuesday for a $135 million loan package to support the Chapter 11 bankruptcy it launched a day earlier to shed nearly $2 billion in debt.

U.S. Bankruptcy Judge Mary Walrath in Delaware said at a hearing on the teen-oriented retailer’s first-day motions that she would sign an order approving the package, noting she once had her ears pierced at a Claire’s store, which are ubiquitous at malls across the United States.

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