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Yet another favorite 90s mall stop files for bankruptcy

(CNN Newsource)

The place where millions of girls first got their ears pierced has declared bankruptcy.

Claire's filed for chapter eleven protection Monday morning. The tween jewelry chain says it will reduce its debt by $1.9 billion.

During the process the company will continue to operate its approximately 1,600 Claire's and Icing brand stores in the United States.

International stores are not part of the restructuring agreement.

Claire's has become the latest U.S. retailer to seek financial help from a bankruptcy court.

Toys "R" Us said last week it was liquidating all its stores in the U.S.

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