Apollo Global Management is reaching back into its playbook.
The private equity investor has been buying up bonds of Claire’s Stores, the jewelry chain it acquired in 2007, Bloomberg News reported late Tuesday. It’s a move that lets Apollo better control the company’s fate, which has been bleak since the firm’s buyout saddled it with more than $2.3 billion of debt.
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Apollo has been buying Claire’s Stores bonds that mature next June
Source: Bloomberg
The purchases of the bonds due in 2017 will buy the ear-piercing chain some time as it aims to return to relevance, with initiatives including selling branded merchandise in partnership wi…
Read the full article at: http://www.bloomberg.com/gadfly/articles/2016-06-01/apollo-debt-discount-shopping-at-claire-s-may-fall-short