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Investing.com -- Claire’s Stores Inc. is seeking potential buyers for part or all of its business as the jewelry retailer deals with increasing competition and rising import costs from U.S. tariffs.
The company has enlisted bankers at Houlihan Lokey Inc (NYSE:HLI). to lead the search for buyers, according to Bloomberg, citing sources familiar with the situation.
Claire’s operates more than 2,000 stores worldwide, including locations in North America and Europe. The retailer has been owned by former creditors, including investment firms Elliott Management Corp. and Monarch Alternative Capital LP, since emerging from bankruptcy in 2018.
A sale would reduce pressure on the current owners who took control of the business following the company’s financial restructuring six years ago.
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