In response to my recent story, "15 Companies That Might Not Survive 2009," Claire's Stores had this to say:
In regard to your recent article, we view your comments about Claire's Stores as highly speculative and irresponsible. Had we had an opportunity to comment prior to publication we would have noted that Claire's has an extremely flexible capital structure with no near term debt maturities and no financial covenants. Furthermore, as of the Company's last report it had $194 million of cash. While the retail business has been difficult lately, Claire's is a value provider well suited for today's times and is comfortable with its financial condition.
Steven Anreder
Spokesman, Claire's Stores, Inc.
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