MajorsJul 01, 2025
Claire’s Is Looking for a Buyer, Report SaysMajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy Again
The jewelry and accessories retailer said its stores will remain open during the proceedings.
Mall staple Claire’s, an accessories and piercing chain that caters mainly to kids, tweens, and teens, has filed for Chapter 11 bankruptcy protection.
Hoffman Estates, Ill.—Claire’s has filed for Chapter 11 bankruptcy protection, the company announced Wednesday morning.
It is the second time in seven years the troubled mall chain, which is grappling with declining mall traffic, increased competition in the piercing space, and the nuances of appealing to a new generation, has filed for bankruptcy protection.
The jewelry and accessories retailer, also known for its piercing services, has filed in the United States and said it plans to do the same in Canada.
“This decision is difficult, but a necessary one. Increased competition, consumer spending trends, and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders,” Claire’s CEO Chris Cramer.
Bloomberg previously reported that Claire’s has a $500 million loan due in December 2026 and has chosen to defer interest payments to conserve cash.
Claire’s said its stores in North America will remain open during the bankruptcy proceedings.
Based in the Chicago suburb of Hoffman Estates, Illinois, the chain operates more than 2,750 stores in 17 countries across North America and Europe, as well as 190 Icing fashion jewelry and accessories stores, as per its website.
While Claire’s caters to customers between ages 3 and 18, Icing’s demographic is women between 18 and 35.
Related stories will be right here …
It is the second time in seven years the troubled mall chain, which is grappling with declining mall traffic, increased competition in the piercing space, and the nuances of appealing to a new generation, has filed for bankruptcy protection.
The jewelry and accessories retailer, also known for its piercing services, has filed in the United States and said it plans to do the same in Canada.
“This decision is difficult, but a necessary one. Increased competition, consumer spending trends, and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders,” Claire’s CEO Chris Cramer.
Bloomberg previously reported that Claire’s has a $500 million loan due in December 2026 and has chosen to defer interest payments to conserve cash.
Claire’s said its stores in North America will remain open during the bankruptcy proceedings.
Based in the Chicago suburb of Hoffman Estates, Illinois, the chain operates more than 2,750 stores in 17 countries across North America and Europe, as well as 190 Icing fashion jewelry and accessories stores, as per its website.
While Claire’s caters to customers between ages 3 and 18, Icing’s demographic is women between 18 and 35.
The move will allow Claire’s to monetize its assets, the company said, while still reviewing strategic alternatives.
The company confirmed previous reports that it was looking for a buyer, and said discussions with potential strategic partners will continue.
Claire’s said it will continue to honor its commitments to its customers, partners, and employees, including continuing to pay employee wages and benefits.
In the U.S., the company said it will seek approval to use cash collateral for the liquidity it needs to support its operations.
The retailer last filed for Chapter 11 bankruptcy protection in 2018, citing heightened competition and declining mall traffic.
In 2021, it explored an IPO but abandoned the idea in 2023 due to what it described as unfavorable market conditions.
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