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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.
Matt Ward, who was head of US communications & corporate media relations at HSBC, has joined FTI Consulting’s PR operation unit in New York.
C Street Advisory Group is providing strategic communications services to STG Logistics as the Columbus-based trucking company files for Chapter 11.
Dollar Tree has named Daniel Delrosario senior VP-investor relations & treasurer.
C Street Advisory Group and Publicis' Groupe's Kekst CNC unit work the Chapter 11 filing of Saks Global Holdings as the luxury retailer evaluates its "operational footprint."
Nashville’s Wortman Works is handling Old Glory Bank, which bills itself as the online bank for freedom-loving Americans, as it goes public via a $250M SPAC deal with Digital Asset Acquisition Corp.
