In February the company announced plans to close 200 stores. That announcement came not long after the company said 184 U.S. stores would be closed.
The company had been working to restructure its debt – nearly $5 billion worth – according to a story from Bloomberg News.
Citing a source who asked not to be named, Bloomberg reported that the search for a buyer for the company had not been successful.
Both stories point out that the situation could change, and the option to close the properties in the United States is only one proposed plan.
Reuters reported that talks to restructure the company were continuing, and that other options were still being explored.
Credit: Jack Taylor
Credit: Jack Taylor
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