Retailer With Hudson Valley Stores Files For Bankruptcy
The plans to file were announced two weeks ago, and now it's official.
Claire's, the tween accessory and makeup store, has officially filed for Chapter 11 Bankruptcy. On Friday, March 9, the retailer revealed that they were $2 million in debt and planned to file.
Under Chapter 11 Bankruptcy, Claire's is able to restructure it's business while still keeping stores open. Claire's has said that they have secured financial support through various hedge funds. However, if it falls through, they could end up like Toys R Us and completely close all of its locations.
Claire's has multiple Hudson Valley locations:
- Poughkeepsie Galleria, Poughkeepsie
- Newburgh Mall, Newburgh
- Galleria at Crystal Run, Middletown
- Hudson Valley Mall, Kingston
- Jefferson Valley Mall, Yorktown Heights
- Palisades Center, West Nyack
- The Westchester, White Plains
- Galleria at White Plains, White Plains
- Cross County Shopping Center, Yonkers
The company is confident they will survive the bankruptcy and plans to come back as a stronger business in the fall for the holiday season.