Claire's, the mall chain that has pierced the ears of millions of teens, has filed for Chapter 11 bankruptcy protection.
The company said today its stores will remain open as it restructures its debt.
Claire's is just the latest retailers to seek bankruptcy protection, close stores or go out of business entirely. Toys R Us announced last week that it would close or sell all its stores after filing for Chapter 11 bankruptcy protection last year.
Privately held Claire's says it expects to emerge from bankruptcy in September.