News Brief

Claire's Stores Sells Out For $3.1 Billion

Claire's Stores, the mall-based accessories retailer geared toward teens, has agreed to be acquired by Apollo Management, a private-equity firm based in New York, in a deal valued at $3.1 billion.

In the past, Apollo's investments have included other retailers, such as Linens 'n' Things, General Nutrition Centers, Ralph's Grocery Company, and Zale Corp.

-- Sarah Mahoney

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