 |
Prosek Partners handles Claire’s Holdings as the jewelry for teens retailer files for Chapter 11 for the second time.
The Hoffman Estates (IL)-based company bills itself as a "global fashion brand powerhouse committed to inspiring self-expression through the creation and delivery of exclusive, well-curated products and experiences."
It says Chapter 11 protection enables it to begin a “monetization process for its assets to maximize value for the business,” while continuing a review of strategic alternatives.
CEO Chris Cramer called restructuring a difficult but necessary decision.
He blamed “increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligation and macroeconomic factors” as reasons for the Chapter 11 filing.
Cramer said the company remains in active discussions with potential strategic and financial partners.
Claire’s retail stores will remain open during the bankruptcy process. The company first filed for Chapter 11 in 2018.
The Blueshirt Group handles Lime as the San Francisco-based electric bike/scooter company has filed paperwork for an initial public offering, which will have an expected valuation in the $2B range.
Why CEOs need their CFOs and CCOs on the same page.
ICR handles Rare Earths Americas as the Manchester, Georgia-based company plans an initial public offering valued in the $370M range.
DGA Group handles takeover target Intertek as the London-based quality assurance testing company as it launches a strategic review of its operations.
