'90s mall stop Claire's declares bankruptcy

The place where millions of girls first got their ears pierced has filed for chapter 11 protection.

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Claire's is looking to reduce its debt by $1.9 billion.

The tween jewelry store chain says it will keep all 1,600 Claire's and Icing brand stores in the United States open during the debt restructuring.

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International stores are not part of the agreement.

The company declared bankruptcy Monday.

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Claire's is the latest US retailer to seek financial help from a bankruptcy court.

Toys R Us announced last week it will liquidate all of its stores in the U.S.

Click here for a look at other companies that have recently filed for bankruptcy.