Claire's borrows $194 million under revolver

By Sara Rosenberg

New York, Dec. 4 - Claire's Stores Inc. drew down the remaining $194 million available under its revolving credit facility during the quarter ended Nov. 1, according to a news release.

The company said that the draw was made immediately after Lehman Brothers, a member of its bank syndicate, filed for bankruptcy in order to preserve the availability of the commitment.

The company received the entire revolver amount, including Lehman's portion.

Claire's is a Pembroke Pines, Fla.-based specialty retailer offering value-priced jewelry and accessories.

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