Claire's Stores Inc., once a teen retail staple, has filed for bankruptcy protection for the second time in seven years as it contends with significant debt. The retailer filed for Chapter 11 bankruptcy protection in a federal court in Delaware on Wednesday, highlighting the "difficulty facing mall-based retailers geared to the teen and tween customer," according to Sarah Foss, head of legal at Debtwire. In the filing with the U.S. bankruptcy court in Delaware, the U.S. firm, primarily owned by Elliott Management and Monarch Alternative Capital, estimated both its assets and liabilities at bet...

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