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CLAIRE'S STORES COMPLETES PLANNED DIVESTITURE OF GRAPHIC ARTS SUBSIDIARY

 CLAIRE'S STORES COMPLETES PLANNED DIVESTITURE OF
 GRAPHIC ARTS SUBSIDIARY
 PEMBROKE PINES, Fla., March 25 /PRNewswire/ -- Claire's Stores, Inc. (NYSE: CLE) today announced the completed disposition, effective Feb. 1, 1992, of Decor Corporation, the Claire's subsidiary which operated its graphic arts division, to the Art Works Corporation, a corporation controlled by Jeffrey D. Gilbert. Gilbert is the principal stockholder of Baraka Art and Frame Co., Inc., a graphic arts retailer based in based in the Washington, D.C./Maryland area.
 Under the agreement, the 7 1/2 percent Convertible Subordinated Debentures due 2006 of Decor Corporation remain convertible into Claire's Stores, Inc. common stock, at a price of approximately $106 principal amount of debentures for each share of common stock. However, the obligation to pay the principal thereof and interest thereon remains solely the responsibility of Decor Corporation.
 Claire's Stores, Inc., the nation's premier retailer specializing in one-stop shopping for women's fashion accessories, currently owns and operates 997 stores in 47 states, primarily under the names "Claire's Boutiques", "Dara Michelle", and "Topkapi."
 -0- 3/25/92
 /CONTACT: David Buchsbaum of Claire's Stores, Inc., 305-433-3900/
 (CLE) CO: Claire's Stores, Inc.; Decor Corporation; Art Works Corporation ST: Florida, District of Columbia/Maryland IN: REA SU:


AW-SS -- FL004 -- 1451 03/25/92 10:48 EST
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Publication:PR Newswire
Date:Mar 25, 1992
Words:211
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