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Claire’s Is Looking for a Buyer, Report Says
The jewelry store chain has reportedly been struggling with costs related to tariffs as well as tough retail competition.
Claire’s Stores Inc., which operates Claire’s and Icing, is looking for a buyer, according to a Bloomberg report.
Hoffman Estates, Ill.—Claire’s Stores Inc. is searching for a buyer, according to a report by Bloomberg.
The jewelry store chain is considering a sale of all or part of the business as it faces rising import costs from U.S. tariffs and tough competition from retailers like Amazon, said the report.
Claire’s operates more than 2,750 stores in 17 countries across North America and Europe, as well as 190 Icing stores, as per its website.
While Claire’s caters to customers between the ages of 3 and 18, Icing’s demographic is women between 18 and 35.
It also has more than 300 franchised stores, located mainly in the Middle East and South Africa.
The retailer filed for Chapter 11 bankruptcy protection in 2018, citing heightened competition and declining mall traffic.
It was also saddled with debt following a 2007 deal with private equity firm Apollo Management, which bought Claire’s at the time for $3.1 billion, taking it private in a leveraged buyout.
The retailer emerged from bankruptcy seven months later with a restructuring plan that aimed to eliminate $1.9 billion in debt and give Claire’s $575 million in new capital from its creditors and owners, which include Elliott Management Corporation and Monarch Alternative Capital.
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The jewelry store chain is considering a sale of all or part of the business as it faces rising import costs from U.S. tariffs and tough competition from retailers like Amazon, said the report.
Claire’s operates more than 2,750 stores in 17 countries across North America and Europe, as well as 190 Icing stores, as per its website.
While Claire’s caters to customers between the ages of 3 and 18, Icing’s demographic is women between 18 and 35.
It also has more than 300 franchised stores, located mainly in the Middle East and South Africa.
The retailer filed for Chapter 11 bankruptcy protection in 2018, citing heightened competition and declining mall traffic.
It was also saddled with debt following a 2007 deal with private equity firm Apollo Management, which bought Claire’s at the time for $3.1 billion, taking it private in a leveraged buyout.
The retailer emerged from bankruptcy seven months later with a restructuring plan that aimed to eliminate $1.9 billion in debt and give Claire’s $575 million in new capital from its creditors and owners, which include Elliott Management Corporation and Monarch Alternative Capital.
In 2021, it explored an IPO but abandoned the idea in 2023 due to what it called unfavorable market conditions.
In recent years, the retailer has worked to expand its retail footprint, partnering with Kohl’s, Macy’s, Walgreens, and Walmart. It also introduced a subscription service.
In 2023, it revamped its image to appeal to a new generation of customers, and later, the company debuted a new campaign aimed at “Gen Zalpha.”
According to information shared with Bloomberg, Claire’s reported $1.3 billion in sales last year, with $720 million of that stemming from its largest market by sales, North America.
Bloomberg also previously reported that Claire’s has a $500 million loan due in December 2026 and has chosen to defer interest payments to conserve cash.
Bankers at investment firm Houlihan Lokey Inc. are leading the search for a buyer, the report said.
Claire’s, Houlihan Lokey, and Elliott Management Corporation declined to comment while Monarch Alternative Capital did not return a request for comment.
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