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Claire's names head of North American division
CHICAGO - Claire's Stores has announced the appointment of Jay Friedman as president of the North American division, reporting to Gene Kahn, CEO, effective immediately.
In his position, Friedman will lead both the Claire's and Icing businesses and will have direct oversight of buying, planning and allocation, supply chain, stores and overall operations of approximately 2,000 stores in the United States, Canada, Puerto Rico and the Virgin Islands.
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Borders delaying payment to some vendors
New York City -- Borders Group is delaying payments to some of its vendors, a company spokeswoman said on Thursday. The news came just weeks after the company said it was trying to obtain new financing to avoid violating the terms of its credit agreements early next year.
"As part of this potential refinancing, Borders has determined that it is necessary to restructure its vendor financing arrangements and is delaying payments to certain of its vendors," Borders spokeswoman Mary Davis said by phone, in a Reuters report.
