According to Reuters, retail chain Claire’s Stores has filed for Chapter 11 in U.S. bankruptcy court in Delaware. Citigroup will provide DIP financing for the company as it goes through restructuring.
American Apparel’s plan of reorganization has been confirmed by the Court. The company’s transformation strategy to revitalize the brand remains the key focus.
Bloomberg reported Monarch Alternative Capital abandoned negotiations to take over a $140 million loan to RadioShack, as the retailer struggled to reach a deal with lenders on a turnaround plan.