Claire’s Stores Inc., a fashion accessories chain, will reportedly file for bankruptcy in the coming weeks.
A deal would pass control from Apollo Global Management to lenders including Monarch Alternative Capital and Elliott Capital Management, people familiar with the matter told Bloomberg. The move could help with Claire's $2 billion debt load, Dayton Daily News reported.
Apollo paid more than $3 billion to acquire Claire's from Rowland Schaefer, and began expanding the business, adding about 350 stores between 2010 and 2013, Dayton Daily News reported.
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