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Claire's Stores, Inc. Emerges from Chapter 11

Hoffman Estates, Ill. — Claire's Stores, Inc. has successfully completed its financial restructuring and emerged from Chapter 11 as the company's court-confirmed plan of reorganization went into effect on October 12, 2018. With support from its creditors and stakeholders, the company has eliminated approximately $1.9 billion of debt from its balance sheet and gained access to $575 million in new capital.

Diversey CEO to Resign

Charlotte, N.C. — Diversey, a customer-centric global leader in the hygiene and cleaning industry, plans a transition of executive responsibilities. Dr. Ilham Kadri will resign from her position as Diversey’s chief executive officer, effective December 31, 2018, to take another executive role, which will be separately announced. In the interim, Dr. Kadri will concentrate on strategic areas needed to ensure a smooth transition.

CEC Entertainment, Inc. Expands Peter Piper Pizza Leadership Team

Dallas — CEC Entertainment, Inc., a nationally recognized leader in family dining and entertainment, has appointed Mahesh Sadarangani to president of Peter Piper Pizza, effective immediately. Sadarangani joins a strong and tenured leadership team, which includes operations led by Mark Eastham and finance led by Rex Moffett. In this role, he will oversee strategic business development and growth.

Boston’s Taps Industry Veterans as Vice Presidents of Sales, Operations

Dallas — Boston's Pizza Restaurant & Sports Bar, a national casual dining brand, has named two franchise industry veterans to its leadership team. Ryan Reeves will assume the role of vice president of sales, and Adam Garner will become vice president of operations.

Sears Holdings Files for Chapter 11 Bankruptcy; CEO Steps Down

Hoffman Estates, Ill. — On October 15, 2018, Sears Holdings Corporation and certain of its subsidiaries have filed voluntary petitions for Chapter 11 bankruptcy relief. Effective immediately, the company’s chairman and CEO, Edward S. Lampert, is stepping down from the CEO role. Also, the company will close 142 stores in addition to the previously announced 46 store closings.

Dunkin’ Brands Continues Growth in Colorado with 19 New Locations

Canton, Mass. — Dunkin’ continues to focus on growth and development efforts outside of the Northeast, recently signing six development agreements for nearly 20 new units in Colorado. Over the next few years, 15 Dunkin’ restaurants will be developed throughout the state, along with three multi-brand Dunkin’/Baskin-Robbins locations and one standalone Baskin-Robbins location.

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