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Claire's may close several stores nationwide after bankruptcy filing. What it means for Kentucky
Claire's, a national mall jewelry chain, recently filed for Chapter 11 bankruptcy for the second time on Aug. 6, and court records show that more than 1,100 stores could close without a buyer. The Illinois-based company, with 1,326 stores across the U.S., is looking for a buyer for about 800 remaining locations after recent financial challenges due to the rise of fast-fashion brands like Shein and Temu, high rent costs and new tariffs from supplier nations, including China, according to court documents filed with the U.S. bankruptcy court in Delaware. Shop Top Mortgage Rates Personalized rates in minutes A quicker path to financial freedom Your Path to Homeownership Court filings reveal 18 Claire's and Icing stores in the U.S. that will close by Sept. 7 at the latest. If the company cannot find a buyer and complete a sale quickly, Claire's will have to shut down all of its locations, including several in the commonwealth. Here's what we know and how Kentucky could be impacted. Why is Claire's filing for bankruptcy? Ahead of the Claire's bankruptcy filing, the company had sought to find a buyer for all or part of the business, and identified 18 stores it would close, according to filings in U.S. Bankruptcy Court in Delaware. The jewelry chain previously deferred payments on debt interest as a way to conserve cash, Bloomberg reported. U.S. tariff policy uncertainties has led to concerns about Claire's ability to pay a $475 million loan due in December 2026, according to Bloomberg, and the company has increasingly fallen behind on its bills over the past year, according to Ragini Bhalla, spokesperson for business credit report provider Creditsafe. Claire's CEO Chris Cramer said in a news release that the decision to file for bankruptcy is a "difficult, but necessary one." "Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire's and its stakeholders," Cramer said. "We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives." More on Claire's bankruptcy: See which stores are closing soon What is bankruptcy? Bankruptcy is a legal process for people or businesses with outstanding debt to eliminate part, or all, of the debt, and establish a repayment plan. According to the United States Courts, all bankruptcy cases are handled in federal courts, and filing for bankruptcy "helps people who can no longer pay their debts get a fresh start by liquidating assets to pay their debts or by creating a repayment plan. Bankruptcy laws also protect financially troubled businesses." What is Chapter 11 bankruptcy? The United States Courts says Chapter 11 bankruptcy is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains 'in possession,' has the powers and duties of a trustee, may continue to operate its business and may, with court approval, borrow new money. A plan of reorganization is proposed, creditors whose rights are affected may vote on the plan, and the plan may be confirmed by the court if it gets the required votes and satisfies certain legal requirements. Which Claire's and Icing stores are closing? A total of 18 Claire's and Icing stores will be closing, with clearance sales concluding no later than Sept. 7, according to the company's court filings. Additional stores could close, the company said in the filing. Here's the current list: Claire's Stores closing (13) Eastdale Mall, Montgomery, Alabama. Newpark Mall, Newark, California. Ford City Mall, Chicago. Market Street, Lynnfield, Massachusetts. Bay City Town Center, Bay City, Michigan. Northtown Mall, Blaine, Minnesota. Livingston Mall, Livingston, New Jersey. Uniontown Mall, Uniontown, Pennsylvania. Shops at Highland Village, Highland Village, Texas. Pinnacle at Turkey Creek, Knoxville, Tennessee. Junction Commons, Park City, Utah. Provo Town Center, Provo, Utah. Woodinville Plaza, Woodinville, Washington. Icing stores closing (5) Galleria at Tyler, Riverside, California. Woodland Mall, Grand Rapids, Michigan. Greece Ridge, Rochester, New York. Mall of Abilene, Abilene, Texas. University Orem, Orem, Utah. Claire's locations in Kentucky According to the Claire's store finder, there are several commonwealth locations that could be impacted by recent bankruptcy filings. Alexandria: 6711 Alexandria Pike SPC 120. Ashland: 500 Winchester Ave Suite 568. Bowling Green: 2625 Scottsville Road #426 and 1201 Morgantown Road. Elizabethtown: 1704 N Dixie Highway. Florence: 1160 Florence Mall Road. Georgetown: 112 Osbourne Way, Room 700. Lawrencenburg: 1000 Bypass N SPC 700. Lexington: 3401 Nicholasville Road. London: 1710 West Highway 192 Suite 6A. Louisville: 4801 Outerloop Road, 5000 Shelbyville Road, 4053 Summit Plaza Drive and 175 Outerloop Road. Owensboro: 3151 Leitchfield Road. Paducah: 5101 Hinkleville Road. Richmond: 820 Eastern Bypass Room 140. Simpsonville: 1155 Buck Creed Road #E512. Somerset: 4150 S. Highway 27 and 177 Washington Drive. USA TODAY reporters Mike Snider and Fernando Cervantes Jr. contributed. Reach Marina Johnson at This article originally appeared on Louisville Courier Journal: Claire's bankruptcy filing means store closures. How it could impact Kentucky Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 minutes ago
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UBS Raised the Firm's PT on LifeStance Health Group (LFST), Kept a Buy Rating
LifeStance Health Group, Inc. (NASDAQ:LFST) is one of the . On August 8, UBS raised the firm's price target for LifeStance Health Group, Inc. (NASDAQ:LFST) from $8.50 to $9, while maintaining a Buy rating on the stock. The increased price target follows the company's fiscal second-quarter earnings release. The company exceeded both revenue and earnings estimates during the quarter. LifeStance Health Group, Inc. (NASDAQ:LFST) posted a revenue of $345.31 million, reflecting a 10.56% year-over-year growth and ahead of estimates by $58,730. Moreover, the EPS of negative $0.01 also beat the analyst consensus by $0.02. A close-up of a healthcare professional studying a computer screen with data while consulting with a patient. Management noted that they increased the number of clinicians providing care by 11% year-over-year, which led to a 12% increase in visit volumes during the quarter. Looking ahead, management has reaffirmed its full-year revenue guidance in the range of $1.40 billion to $1.44 billion. LifeStance Health Group, Inc. (NASDAQ:LFST) is a reimagining mental health company that provides both virtual and in-person mental healthcare for children, adolescents, and adults. While we acknowledge the potential of LFST as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
7 minutes ago
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Emerging countries' debt payments to private lenders dwarf those to China
By Libby George LONDON (Reuters) -Lower-income countries' external debt payments to private lenders remain three times higher than payments to China, research shows, shedding light on the complex, costly web of creditors they face as they struggle to keep up repayments. The research, by advocacy group Debt Justice UK, underscores the power private lenders - from bondholders to commodity trading houses - have in countries across the developing world which juggle debt repayments with spending on other needs, from education to infrastructure. Tim Jones, policy director at Debt Justice, said the data countered a narrative that China has played a primary role in creating debt crises in lower-income countries. China has lent hundreds of billions of dollars for infrastructure and other projects in developing countries and has used earnings of commodity exports, or cash held in restricted escrow accounts, from borrower nations as security for the loans. "Commercial high-interest lenders are receiving the greatest debt payments by lower-income countries," Jones said in a statement. "Where debt payments are too high, all external creditors need to cancel debt, in proportion to the interest rates they charged." While a post-pandemic wave of defaults has largely crested, developing countries still struggle with unsustainable debt as concessional financing shrinks, borrowing costs remain high and spending needs for infrastructure and climate resilience rise. Ethiopia is locked in debt restructuring negotiations with bondholders who have rejected taking haircuts, while Ghana and Zambia are still negotiating deals with some private creditors. The International Monetary Fund also recently wrote that Malawi was in default on $439 million in loans to Afreximbank and $464 million to Trade and Development Bank. Debt Justice's research, using World Bank data, found that between 2020 and 2025, 39% of external debt payments by 88 lower-income countries and small island developing states - a total of $354 billion - went to private lenders, compared with 34% to multilaterals, 13% to Chinese public and private lenders and 14% to repay bilateral loans to other governments. Of the 32 countries with the highest external debt payments, 21 of them sent more than 30% of payments to private lenders. Only six of them - Angola, Cameroon, Congo Republic, Djibouti, Laos and Zambia sent more than 30% of external debt payments to Chinese lenders. The data also showed a sharp increase in repayments to multilateral lenders - from $30 billion in 2020 to $70 billion in 2025. Jones said the rise followed a rapid increase in multilateral lending from 2019, which accelerated during the COVID-19 pandemic. Many of those loans are starting to come due now, he said, while those with floating interest rates would have become more expensive during the global interest rate hiking cycle. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
