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Claire's has filed for bankruptcy. The hub for ear piercings at malls across America is the latest retailer to succumb to its massive pile of debt.Claire's, which says it has pierced more than 100 million ears around the world, reached a restructuring agreement with its creditors. In a Chapter 11 bankruptcy filing on Monday, Claire's said it will reduce its by debt .9 billion. It held .1 billion in debt at the end of 2017.The company will continue to operate its approximately 1,600 Claire's and Icing brand stores in the United States during the bankruptcy process and expects to complete it by September. International stores are not part of the restructuring agreement."This transaction substantially reduces the debt on our balance sheet," Claire's CEO Ron Marshall said in a statement. "We will complete this process as a healthier, more profitable company." Marshall came from now-defunct bookstore chain Borders. Claire's struggles stem from a deal it struck more than a decade ago that left it burdened with debt.In 2007, Apollo Management, a private equity firm, bought Claire's for .1 billion and took the company private in what's known as a leveraged buyout.Claire's could never escape its debt load. As traffic slowed to its brick-and-mortar stores, shoppers moved to digital channels and fast fashion chains such as H&M, Zara and Forever 21 chipped away at sales.Claire's joins a long line of retailers that have filed for bankruptcy in recent years, including Toys "R" Us, Payless Shoes, Gymboree, Rue21, The Limited and RadioShack.Toys "R" Us, another company left deep in debt from a leveraged buyout, said last week that it was liquidating its 735 stores in the United States.Claire's believes a lighter balance sheet will help it avoid Toys "R" Us' fate and still remain a "Girl's Best Friend." And the company says its business is Amazon-proof because you can't pierce your ears online.The-CNN-Wire 1940

Conor McGregor and Khabib Nurmagomedov's suspensions have been extended indefinitely following the brawl that broke out after their UFC fight earlier this month.The Nevada State Athletic Commission unanimously ruled on Wednesday to uphold the fighters' suspensions until the end of its investigation into the ugly scenes that broke out following McGregor's defeat by Nurmagomdov in Las Vegas.The Commission also voted to withhold half of Nurmagomedov's million purse until a hearing in December.READ: Conor McGregor comeback ends in defeat amid chaotic scenes"I have felt half was a good enough amount of money, to release a million dollars," the NSAC chairman, Anthony Marnell, said during the meeting. "That should cover all expenses, give the fighter some money."At the same time, it's still a very substantial amount of money to be withheld until we can get to the case in December and get all of the testimony or potentially we get a settlement agreement."Who knows how that will go over the next 60 days, but it's enough money to keep this contestant's interest in this hearing."READ: UFC 'never going to change' after trash talk fuels ugly brawlIt comes after Nurmagomedov, who maintained his unbeaten 27-0 record with a comfortable victory over McGregor, scaled the octagon to launch an attack on the Irishman's team after the fight on October 6.Members of the Russian's team also launched their own assault on the beaten McGregor. Three men were reportedly arrested but later released after McGregor refused to press charges.While Nurmagomedov apologized for his actions, he said he had been aggravated by McGregor's pre-fight trash talk, with the Irishman, who had not fought since his boxing match against Floyd Mayweather in August last year, making remarks concerning the Russian fighter's family, religion, and nationality."This is a respectful sport, not a trash-talking sport," Nurmagomedov said during a post-bout media conference.READ: Khabib Nurmagomedov threatens to quit UFC after brawlThe pair were previously handed temporary suspensions on October 15 following the ugly scenes at UFC 229.The-CNN-Wire 2135

Congress received notification that POTUS officially withdrew the U.S. from the @WHO in the midst of a pandemic.To call Trump’s response to COVID chaotic & incoherent doesn't do it justice. This won't protect American lives or interests—it leaves Americans sick & America alone.— Senator Bob Menendez (@SenatorMenendez) July 7, 2020 348

Cori Bush, a onetime homeless woman who led protests following a white police officer’s fatal shooting of a Black 18-year-old in Ferguson, has ousted longtime Rep. William Lacy Clay in Missouri’s Democratic primary. Bush’s victory came in a rematch of 2018, when she failed to capitalize on a national Democratic wave that favored political newcomers such as Bush’s friend, Rep. Alexandria Ocasio-Cortez. But this time around, Bush’s supporters said protests over George Floyd’s death and outrage over racial injustice finally pushed her over the edge. An emotional Bush, speaking to supporters while wearing a mask, said few people expected her to win.“They counted us out,” she said. “They called me — I’m just the protester, I’m just the activist with no name, no title and no real money. That’s all they said that I was. But St. Louis showed up today.”Bush’s campaign spokeswoman, Keenan Korth, said voters in the district were “galvanized.”Missouri’s 1st Congressional District, which which encompasses Ferguson, has been represented by the 64-year-old Clay or his father for a half-century. Bill Clay served 32 years before retiring in 2000, when William Lacy Clay was elected. 1191

COSTA MESA, Calif. (AP) — The Los Angeles Chargers could explore bringing in Colin Kaepernick for a workout depending on what happens during the preseason, but right now, nothing is scheduled. Coach Anthony Lynn says Kaepernick is on the team's workout list because he fits the style the Chargers are looking for. "I'm very confident and happy with the three quarterbacks that I have, but you can never have too many people waiting on the runway," Lynn said, per ESPN's Lindsey Thiry.Per NFL Network's Omar Ruiz, Lynn thinks that Kaepernick “fits the style of quarterback for the system we’ll be running.” 613

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