First Toys R Us, now Claire’s.
If you had any sort of adolescence, you know about this very special mall haven. Not every tween went through a Hot Topic phase. But seldom will you find a budding adolescent who didn’t find a piece of their identity in Claire’s sparkling array of cheap jewelry and sparkling fashion accessories.
Unfortunately, the day has come that Claire’s is filing for bankruptcy. They’ve reached a deal with their developers to reduce their debt you about $1.9 billion.
But Don’t Fret… Claire’s Has Plans to Survive
The store is just one of many brick and mortar staples to get hit hard by the retail apocalypse. In 2016, they shuttered the doors of over 150 locations. And in 2015, they signed up for an imminent D-Day when joining forces with Toys ‘R’ Us, by agreeing on a deal to put their concession stores in the now-bankrupt toy store.
Before you start crying into your favorite pair of oversized hoops from the glitzy mall retailer, there is one bit of good news. They’re not closing all of their stores, and they plan to stay in business.
Claire’s CFO Scott Huckins said that decreased mall traffic has substantially hurt brick-and-mortar stores. Still, he believes that Claire’s has a certain niche that makes it stand out and survive: ear piercing. That’s one thing that you can’t buy on Amazon. At least right now.
They also plan to open 4,000 concessions in 2018.
So there’s still hope that future teens will experience the delight of taking home their first bottle of ear piercing cleaning solution for generations to come.
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Data Source: buzzfeed.com