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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
COACHELLA, Calif. (KGTV) -- Another puppy was discovered in a dumpster at Coachella just weeks after a woman was arrested for reportedly leaving seven puppies in a trash can. According to the Animal Hope and Wellness Foundation, the puppy was found badly beaten and burned in a dumpster on the 49000 block of Harrison Street around 1 p.m. on May 5. Someone digging through the trash heard the puppy crying and took her to a nearby jewelry store, where she was rushed to an animal hospital. RELATED: Woman arrested after puppies dumped in trash can at Coachella“It appears as if she was burned with a caustic substance, or a metal object like an iron,” the foundation said. The weeks-old puppy also had a portion of her tail cut off and can’t walk due to being beaten. The puppy, whose name is Hope, is currently in intensive care and being monitored 24 hours a day. The foundation is offering a ,000 reward for information leading to an arrest of the person responsible. The incident comes after a woman identified as Deborah Sue Culwell, 54, was arrested for reportedly dumping seven puppies in a dumpster at Coachella. The puppies were only about three weeks old. A good Samaritan was able to rescue the puppies, saving their lives. 1246
CORAL SPRINGS, Fla. (KGTV and WPBF) - The Parkland community gathered for a vigil Thursday to remember the 17 victims of the Marjory Stoneman Douglas High School shooting.The vigil took place at Parkridge Baptist Church in Coral Springs, about a mile from the school.Florida Governor Rick Scott and other elected officials joined the group.The church has a direct tie to the high school. When it first started its ministries, the church used the school auditorium. 477
COVID-19’s disproportionate impact on people living with diabetes is a growing concern.The American Diabetes Association says nearly 40% of COVID-19 deaths have been from those with the disease, while 90% of the hospitalizations have been people with diabetes or other underlying conditions.“Diabetes was a health crisis and epidemic in this country before the pandemic, and what the pandemic has done really is shine a very bright light on an old problem,” said Tracey Brown, CEO of the American Diabetes Association.Brown has lived with diabetes for 16 years. She's worried about additional financial struggles brought on by the pandemic.Even before COVID-19, one in four people were rationing their insulin to get by.Brown says the current unemployment rate is higher among people with diabetes. So, the burden has only worsened for those that have lost health coverage because of job loss.The disease also disproportionately impacts people of color living in low income areas.Brown says even now in 2020, every 5 minutes, someone in the U.S. loses a limb because of complications from diabetes.“There are so many comorbidities that go along with this, which is another reason why I talk about the fact that if we want to address the wellbeing of Americans, and improve the wellbeing of Americans, you can't have that conversation without having a conversation about improving diabetes,” said Brown.Brown wants to make sure people with diabetes don't feel like they're alone right now.There's a page of resources available on their website, Diabetes.org. You can also call 1-800-diabetes if you're struggling. 1620
CORONADO, Calif. (KGTV) -- A Coronado bookstore that’s been a fixture of the landscape for nearly three decades will be able to move a few doors down thanks to a decision by the City Council. In 2018, a developer bought up nearly a whole block of Orange Avenue and Bay Books was only paying a fraction of market rent. Owner Angelica Muller told 10News in February that the store was considering a move down the block, but would have to sell coffee and pastries to stay in business. RELATED: New hope beloved Coronado bookstore will find new homeTuesday night, Coronado’s Mayor Richard Bailey announced that the city council took action that allows the store to offer coffee service. “We believe this policy will be helpful to our downtown business community and is a win for Coronado,” Bailey said. Read the full Facebook post below: 842