 |
|
|
|||||
Claires, the fashion and accessories retailer that has been a staple of American malls for decades, has filed for Chapter 11 bankruptcy protection for a second time. The retail chain, aimed at the teen and tween market, has been struggling with the same headwinds faced by many brick-and-mortar businesses, including the broader shift to online shopping, increased competition, rising prices, and an unsustainable debt load. In a press release on Wednesday, parent company Claire’s Holdings LLC said it will use the Chapter 11 process to “maximize the value” of its business. That includes exploring a potential sale. “We remain in active discussions with potential strategic and financial partners and are committed to completing our review of strategic alternatives,” Claire’s CEO Chris Cramer said in a statement. Which Claire’s stores are closing? While Claire’s said its North American stores will remain open as part of the Chapter 11 process, it’s likely that many will not survive as the company reviews its physical footprint and assesses which locations may be underperforming. In fact, in a bankruptcy court filing, Claire’s says it has already reviewed its lease portfolio and decided that some stores “should be exited.” The filing identifies 18 locations across numerous states that will almost certainly begin store closing sales soon, if they haven’t already: Market Street at Lynnfield Claire’s Lynnfield Massachusetts Woodinville Plaza Claire’s Woodinville Washington Galleria at Tyler-ICG Icing Riverside California Provo Town Center Claire’s Provo Utah Newpark Mall Claire’s Newark California Shops at Highland Village Claire’s Highland Village Texas Mall of Abilene (ICG) Icing Abilene Texas 8456 Greece Ridge (ICG) Icing Rochester New York Pinnacle at Turkey Creek Claire’s Knoxville Tennessee Union Town Mall Claire’s UnionTown Pennsylvania Ford City Mall Claire’s Chicago Illinois Northtown Mall Claire’s Blaine Minnesota Bay City Town Center Claire’s Bay City Michigan Eastdale Mall Claire’s Montgomery Alabama Junction Commons Claire’s Park City Utah University Orem (ICG) Icing Orem Utah Woodland Mall (ICG) Icing Grand Rapids Michigan Livingston Mall Claire’s Livingston New Jersey Closing sales were expected to begin as early as July 25 and conclude no later than September 7. Claire’s says it has retained Hilco Merchant Resources to act as its liquidation agent to facilitate the store closings. The filing also identifies additional stores that are expected to be added to the closing list as part of Claire’s agreement. The list includes 1,326 locations that could be closed by October 31 unless Claire’s is unable to find a buyer. Reached for comment, a spokesperson for Claire’s referred Fast Company to Wednesday’s press release but did not comment on a more specific timeline for store closures or whether additional stores will be added to the list. This story is developing…
Category:
E-Commerce
In China, wait times for U.S. visa interviews are so long that some students have given up. Universities in Hong Kong are fielding transfer inquiries from foreign students in the U.S., and international applications for British undergraduate programs have surged.President Donald Trump’s administration has been pressuring U.S. colleges to reduce their dependence on international enrollment while adding new layers of scrutiny for foreign students as part of its crackdown on immigration.The U.S. government has sought to deport foreign students for participating in pro-Palestinian activism. In the spring, it abruptly revoked the legal status of thousands of international students, including some whose only brush with law enforcement was a traffic ticket. After reversing course, the government paused new appointments for student visas while rolling out a process for screening applicants’ social media accounts.The U.S. remains the first choice for many international students, but institutions elsewhere are recognizing opportunity in the upheaval, and applicants are considering destinations they might have otherwise overlooked. The impact on U.S. universities and the nation’s economy may be significant.New international enrollment in the U.S. could drop by 30% to 40% this fall, according to an analysis of visa and enrollment data by NAFSA, an agency that promotes international education.That would deprive the U.S. economy of $7 billion in spending, according to the analysis. Many international students pay full price, so their absence would also hurt college budgets. Britain stands to gain as the US takes ‘a massive hit’ As the second most popular destination for international students, Britain is positioned to benefit.The country’s new Labour government has vowed to cut migration, and officials have imposed time limits on post-study visas allowing graduates to stay and work. But admissions consultants say the United Kingdom is still seen as the most welcoming of the traditional “big four” English-speaking destinations in higher education the U.S., U.K., Canada and Australia.After declining last year, the number of international applications for undergraduate study in the U.K. this fall grew by 2.2%, official figures show. A record number of applications came from China, up 10% compared with the previous year. Applications from the U.S. also reached nearly 8,000 students an increase of 14% and a 20-year high.Acceptances of international students for graduate programs in the U.K. grew an estimated 10% from last year, driven by demand for business and management courses in particular, according to data from UniQuest, which works with many British universities on admissions.Data showing the extent of any impact will not be available until fall, said Mike Henniger, CEO of Illume Student Advisory Services, a consultancy that works with colleges in the U.S., Canada and Europe. “But the American brand has taken a massive hit, and the U.K. is the one that is benefiting,” he said. Staying in Asia is becoming more popular Demand from Chinese students has risen rapidly for universities places in Hong Kong, Singapore and Malaysia, said Will Kwong, managing director of AAS Education, a consultancy in Hong Kong. Many Western universities have offshore campuses there that are more affordable than going to the U.S. or U.K.“Opting for study in Asia has been a trend since the easing of COVID-19,” Kwong said. “But obviously it’s been exacerbated by the change of administration in the U.S.”Some Asian families have told him the U.S. is no longer their clear first choice because of political turbulence and visa difficulties, many are still waiting for U.S. visa interviews and will likely miss the start of the fall term, Kwong said.Chinese college student Alisa, who is studying data science, plans to attend an exchange program this fall at the University of California, Berkeley. She hopes to pursue a master’s degree in the U.S.But she is also looking into other options “just so I could still go to school if the extreme scenario occurs,” said Alisa, who spoke on condition of partial anonymity out of fear of being targeted.Hong Kong will welcome any students who are denied entry to the U.S., the city’s leader John Lee has said. Last year, the Chinese territory decided to allow international students to work part-time.Hong Kong University said it has received over 500 inquiries from students in the U.S. and is processing around 200 applications for transfer. At another school, the Hong Kong University of Science and Technology, international undergraduate applications have surged by 40% from last year, said Alison Lloyd, associate provost on institutional data and research. Upheaval could be a boon for countries with satellite campuses Countries including the United Arab Emirates have invested heavily in attracting international students by partnering with universities elsewhere to host branch campuses. These arrangements could appeal to students who fear being denied access to the U.S.Dubai, which has designs on becoming a global education hub, hosts dozens of international institutions’ satellite campuses. It saw international student numbers grow by a third in 2024-2025.Lisa Johnson, principal of Dubai’s private American Academy for Girls, said her mostly Emirati student body is increasingly looking away from the U.S. for college.“Every student wants and dreams to go to Harvard,” she said. “But as college options increase in the United Arab Emirates, more and more students are staying.”Kazakhstan has similar ambitions, said Daniel Palm, who has helped U.S. universities set up campuses abroad. Illinois Tech and the University of Arizona are among colleges offering degree programs in the Central Asian country, drawing students mostly from China and Russia.“All of a sudden U.S. colleges are asking how to provide diversity, provide access,” Palm said, “because you have students who want to come to the U.S. and can’t.” Associated Press writers Kanis Leung in Hong Kong; Albee Zhang in Washington, D.C.; and Gabe Levin in Dubai contributed. Sylvia Hui, Associated Press
Category:
E-Commerce
Vision boards are now getting the AI treatment. From Lucky Girl Syndrome to the whisper method, the idea of manifesting your dream life into existence has been trending on social media for some time. Now, with the rise of generative AI tools, people are creating personalized life trailers with the help of platforms like Freepik, Runway, and ChatGPT in order to bring those dreams to life in entirely new ways. For one 24-year-old The New York Times recently interviewed, her digital vision boardcreated using Freepikincluded flying on a private plane, giving a keynote address to a packed room, and getting a notification on her computer that she reached 100,000 subscribers on YouTube, the newspaper reported. Instead of writing down her wishes in a journal or cutting out aspirational images from magazines and Pinterest boards, she was able to place an avatar of herself directly into her ideal future using artificial intelligence technology. Shes not alone. I accidentally manifested a trip to Paris with AI, one TikTok creator claimed, showing AI-generated images of herself in front of the Eiffel Tower, followed by a text from her boyfriend with a booking confirmation. If you are not using AI to read you a play-by-play of your future, you are using it wrong, another user posted. I am literally giddy and kicking my feet right now. @sabi.manifests Was playing with an AI to visualise myself in Paris, didnt tell a soul about it – and my man sends me this.. HOW? #lawofattraction #manifestation #howtomanifest Jet2 Advert – A7-BBH | MAN Some TikTokers have shared prompts theyve used to clarify the life they want to manifest. Others suggest writing down those visions, turning them into a podcast using ChatGPT or Google AI, and listening to it on repeat throughout the day. @sophie.riichards Go manifest your dream life queens! Who says AI is bad now ey? #chatgpt #manifesting #manifestyourdreamlife #visionboard #goals #howtomanifest original sound – Sophie Richards As AI becomes more embedded in daily life, its no surprise that people are finding inventive ways to maximize these tools. Earlier this year, a Harvard Business Review study found organizing my life and finding purpose were the second- and third-most popular uses for generative AIjust behind therapy/companionship. At the same time, with much of the world feeling uncertain, manifestation content has seen a surge. After months of bleak headlines, rising unemployment, and ongoing economic instability, who wouldnt want to watch a personalized highlight reel of themselves landing their dream job or stepping into the life theyve always envisioned? Just dont get so caught up in replaying your life trailer that you forget to actually live it.
Category:
E-Commerce
All news |
||||||||||||||||||
|
||||||||||||||||||