Bankruptcy #2 in seven years. Eighteen stores closing, likely hundreds more. We’re the ones cleaning up the mess, losing paychecks, trying to explain to our partners why our jobs vanished. How many of these are we going to have before somebody figures out how to actually fix things around here?
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The executives who created this mess are now all gone. But they certainly were paid handsomely for their horrible leadership. The new buyers are taking on a ton of debt. Our vendors saw the writing on the wall when the payment terms went from NET30 to NET90.
Now it's NET-NEVER. It's going to be difficult to get new vendors to work with a company that have stiffed their business partners twice in the past 5 years.
This was the 3rd round of layoffs in the past 18 months so bankruptcy was not a surprsise.
If you were let go in April 2024 or March 2025 you got severance. For those that were let go last week you got nothing. That's pretty cr-ppy since the people let go were carrying the load of all the people that were let go previously,
The time to fix things are over. Claire's stores will go away by 2026.