Claire’s
Many women have fond memories of Claire’s, especially in their formative years. It was their go-to place in any mall for girls’ jewelry and accessories. They even have their ears pierced there for the first time. However, this store which was first established in 1961, may not be part of the future young girls’ memory any longer as it had ceased its IPO. CheatSheet reported that it might mean that a 2018 bankruptcy was imminent and it did happen. The company applied for Chapter 11 bankruptcy in March 2018 and planned to lessen its debt by $1.9 billion. By May 2018, it had shut down 130 stores. It now plans to sell itself to potential investors and buyers.
Claire’s
FullBeauty Brands Holdings Corp
FullBeauty is the owner of brands for plus-size men and women like Woman Within, fullbeauty.com, Jessica London, ellos, Roaman’s, Brylane Home, and KingSize. This retailer also blames the e-commerce giant Amazon for its declining sales. This reason is not surprising as many retailers have given the same reason for their financial problems. Apax Partners, owner of FullBeaty, included this reason in their message to their lenders in 2017. The company reported to its lenders that its revenue dropped 30 percent in the first quarter of 2017’s fiscal year. FullBeauty had major changes in its executive team in July 2018, bringing on board Bob Riesbeck as its CFO, Liz White as the chief customer officer, and Robert Lepere as the chief people officer. In their press release, the new executives promised to lead the company into more progress.
FullBeauty
