Teen-targetted US jewelery chain Claires has become the latest bricks-and-mortar retailer to file for bankruptcy, with FTI Consulting reportedly advising on restructuring of the group. The companys collapse comes just weeks after the collapses of toy store Toys R Us, which was said to have fallen prey to heightened online competition, paired with an unsustainable level of corporate debt.
Claires Stores has filed for bankruptcy, as the latest in a small but growing cadre of failed private equity-backed retail firms led most notably by Toys R Us, which is now liquidating its iconic stores. Acquired in 2005 by a consortium of buyout funds, including Bain Capital, KKR and Vornado Realty Trust, the new private equity owners loaded Toys R U…
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