Claire’s plans to file its pre-negotiated plan of reorganization in April.
Claire’s said it has the support of most of its debt holders, and plans to exit bankruptcy in September 2018.
The footwear retailer has already pre-negotiated a plan of reorganization, which it filed with the court.
Credit ratings firm S&P issued a report on the outlook concerning the distressed retail sector.
This will make the second retail venture for the low-profile hedge fund.
Robert Taubman talked “momentum,” Korea and even addressed going private while discussing full-year financial results.
The retailer said talks continue with its debt holders and potential investors.
Debt holders are willing to continue to invest in the retailer, but only on the condition Bon-Ton finds a new investor to “assume majority ownership.”
The regional department store is exploring strategic alternatives, including a sale of the company.
The beauty brand is struggling stateside, but booming elsewhere.