Daily News: March 19, 2018

Claire’s Files Chapter 11, Citigroup to Provide DIP Financing


According to Reuters, retail accessories and jewelry chain Claire’s Stores has filed for Chapter 11 in U.S. bankruptcy court in Delaware.

Reuters said the company had reached an agreement with its creditors, led by Elliott Management and Monarch Alternative Capital, that would provide an additional $575 million in new capital while it went through restructuring.

Claire’s also received a commitment from Citigroup for $135 million in DIP financing, added Reuters.