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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
COVINGTON, Ky. -- At least three Northern Kentucky school districts will be closed Monday after state lawmakers rushed through a pension overhaul plan.Covington Independent, Boone County and Kenton County schools confirmed they'll be closed April 2.Covington spokesperson Deb Vance said 180 of 271 teachers called to say they're taking a personal day on Monday. The day will have to be made up later, she said. In Boone County, Superintendent Randy Poe said a day off will let teachers and families travel to Frankfort."Drastic times call for drastic action," Poe said in a letter to parents. "Although closing school is the last thing anyone wants to do, one of the reasons for this decision to close school is because educators feel one of their main responsibilities is to advocate for the children of the Commonwealth."The bill passed Thursday night preserves benefits for current retirees. Most benefits for current workers would also be preserved, but sick days would be capped after this year and will not be applied toward retirement. Some teachers would also have to increase the amount they pay to fund retiree health.However, future teachers would not be guaranteed a set pension when they retire, and would instead use a hybrid 401(k) plan that requires them to contribute more. 1298
CVS Health is being sued for allegedly revealing the HIV status of 6,000 patients in Ohio.A federal lawsuit claims CVS mailed letters last year that showed the status of participants in the state's HIV drug assistance program through the envelopes' glassine window.The complaint, which was filed March 21 in federal court in Ohio, also names Fiserv, the company that CVS hired to mail the letters. On the envelopes used by Fiserv, the patients' HIV status could be seen through the clear window, just above their name and address, the documents states.The letters included the patients' new benefits cards and information about a mail prescription program.The companies are being sued by three unidentified plaintiffs, according to the complaint.The first plaintiff, only identified as John Doe One of Delaware County, Ohio, says he "feels that CVS has essentially handed a weapon to anyone who handled the envelope, giving them the opportunity to attack his identity or cause other harm to him."Another plaintiff identified as John Doe Two of Defiance County says he lives in a small town and fears the stigma stemming from the disclosure of his HIV status.He is also concerned that his "friends and family run the risk of being stigmatized just by being seen with him."The third plaintiff says he also lives in a small town in Gallia County, where "everyone knows everyone" and has experienced "significant distress as a result of this disclosure."He is scared to leave his home and has "experienced complications and health issues since this disclosure, up to and including just in the past several days."The plaintiffs are seeking a class-action suit and a jury trial.The attorneys claim that CVS failed to announce the breach of privacy data and did not contact all the patients whose status was revealed.In a statement to CNN, CVS Health said the envelope window was intended to show a reference code for the assistance program and not the recipient's health status."CVS Health places the highest priority on protecting the privacy of those we serve, and we take our responsibility to safeguard confidential information very seriously," the statement said."As soon as we learned of this incident, we immediately took steps to eliminate the reference code to the plan name in any future mailings."A representative for Fiserv told CNN the company does not comment on pending litigation.The Ohio Department of Public Health did not reply to a request for comment Saturday. 2483
CLEVLAND, Ohio — The FBI is investigating civil rights issues inside the Cuyahoga County jail according to a damning report detailing serious problems inside the jail.The details of the incident involving the use of force as a punishment, as well as the FBI's involvement were blacked-out in a version of the report released by Cuyahoga County on Wednesday.However, a complete version obtained by WEWS television station investigators confirm "this particular UOF incident was turned over to the Federal Bureau of Investigation, Cleveland...for further investigation."According to the report, prepared by the US Marshals at the request of county leaders, the Facility Review Team confirmed use of force is used as punishment inside the jail.The report also noted more than 100 interviews with inmates and detainees "reveal strong and consistent allegation of brutality, UOF punishment, and cruel treatment at the hands of the Security Response Team (SRT), whom the detainee/inmates refer to as "The Men in Black" based on their black para-military uniforms."Inspectors also noted that body cam video revealed "aggressive conduct and behavior as well as abusive, explicit language used by SRT members direct at detainees/inmates."US Marshal Pete Elliott confirmed that both the FBI and Cuyahoga County's Inspector General are conducting investigations into civil rights issues inside the jail.Since late June, at least six inmates have died at the jail. Inspectors noted the jail failed to conduct reviews of the deaths and cited "insufficient and unclear answers" regarding the deaths.The report also found there have been 55 suicide attempts at the jail in the last 12 months.Cuyahoga County leaders have pledged improvements at the facility and say some changes have already been put in place. 1818
Country music star and philanthropist Dolly Parton is being credited for saving the life of a young co-star while filming her latest Christmas movie."We were on set, and I was at the hot chocolate station, and they said 'Go back to your beginning positions,'" Talia Hill, age 9, said in an interview with Inside Edition. "So, there is a vehicle moving, and I was walking, and then somebody grabbed me and pulled me back and I looked up and it was Dolly Parton."Hill said she was in shock.“And she said ‘"Well, I am an angel, you know,’” a reference to Parton’s role in the Netflix film “Christmas on the Square.”“She hugged me and shook me and said, 'I saved your life!'" Hill said. "And my mom's going, 'Yes, you did, Dolly Parton. Yes, you did!'"Hill was cast in the new holiday film alongside her older brothers, Tristan and Tyson.In addition to “Christmas on the Square,” this season Parton released her first full length Christmas album in 30 years, “A Very Holly Dolly Christmas,” which was turned into a TV broadcast special on CBS. 1047