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Mar 22, 2018 · An investment fund holding some of the teen retailer's debt said in court papers that Apollo Global Management has "exercised unfettered control over" Claire's that should be scrutinized.
- Ben Unglesbee
Mar 18, 2018 · Claire’s, an operator of jewelry retail stores at malls throughout the world, has filed for Chapter 11 bankruptcy protection as it looks to trim about $1.9 billion from its $2.1 billion debt load. Apollo Global Management has backed Claire’s since 2007, when it took the company private for $3.1 billion, and currently owns 97.7% of the retailer.
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Mar 19, 2018 · Apollo owns 97.7 percent of Claire’s, which had $2.1 billion in long-term debt at the end of 2017. Claire’s said it was up-to-date with its vendor payments and had “ample liquidity.”
Oct 12, 2018 · Apollo Global Management LLC took Claire’s private in 2007 in a $3.1 billion leveraged buyout. ... Claire’s Stores Inc. emerged from bankruptcy proceedings after about seven months.
- micah.maidenberg@wsj.com
- Reporter
Claire's was a publicly-traded company listed on the NASDAQ in 2005, [citation needed] but was taken private by the private equity firm Apollo Global Management in a $3.1 billion leveraged buyout in 2007. In 2008, Claire's consolidated its European operations into one group with headquarters in Birmingham. The first stores in Ukraine were ...
Mar 19, 2018 · UPDATE: Claire’s Stores officially filed for Chapter 11 bankruptcy, expecting to reduce debt by approximately $1.9 billion, according to a company statement. Claire’s said it reached an agreement with creditors including Elliott Management Corp. and Monarch Alternative Capital LP, which will provide the retailer with approximately $575 million in new capital. With these commitments in ...
Mar 10, 2018 · Claire’s is struggling to repay $2 billion of debt that Apollo Global Management LLC loaded onto the retailer’s balance sheet when Apollo completed a leveraged takeover of Claire’s in 2007.
