AMERICAS DISTRESS DAILY: Claire’s Nears Chapter 11 Filing

Claire’s Stores teeters may seek Chapter 11 protection as soon as this week as it struggles to address debt and weak cash flow.

• The retailer has a nearly $500 million loan due in December 2026 that’s plunged to 37 cents on the dollar from 76 cents in June

In Other News:

• Rite Aid sued McKesson, the bankrupt pharmacy chain’s largest drug supplier, seeking the return of roughly $90 million in payments transferred in the run up to its Chapter 11 filing.
• An Argentine bankruptcy court approved a $1.3 billion debt restructuring for Molino Cañuelas, a top wheat miller and ...