SourcingAug 19, 2025
Dubai’s Jemora Group Buys Diamond Miner LucapaMajorsAug 21, 2025
Claire’s Finds Buyer, Could Save up to 950 Stores
The retailer, which recently filed Chapter 11, inked a deal to sell its North American business and intellectual property.
Mall staple Claire’s has found a buyer for its North American business, allowing it to save up to nearly 1,000 stores in the U.S. and Canada from closure.
Hoffman Estates, Ill.—Claire’s has entered into an agreement to sell its business operations and intellectual property in North America, the company announced Wednesday, a deal that will allow the retailer to preserve a portion of its store network.
The buyer is an affiliate of Ames Watson, a Maryland-based private equity firm that has invested in WatchBox, Lids, Champion, and Fanatics.
The mall staple filed for Chapter 11 bankruptcy protection a second time earlier this month, filing in both the United States and Canada, and was looking for a buyer for some or all of its assets.
The sale of its North American business and IP was valued at $104 million in cash plus a $36 million seller note (both subject to adjustments), as per court documents.
“Importantly, the sale transaction will preserve thousands of jobs, provide continued business to many of the debtors’ vendors and landlords, and will allow the Claire’s brand to remain a prominent retailer for teens, tweens, and young girls around the world,” said the filing.
Claire’s has been struggling in the face of declining mall traffic, increased competition, and the challenge of appealing to a new generation of shoppers.
After filing, the retailer initially announced the planned closure of 18 stores in the U.S., but that number quickly grew.
On Aug. 6, Claire’s CEO Chris Cramer stated in court documents that the company could close as many as 700 locations, including all 190 Icing stores and 210 shop-in-shops in Walmart, and would continue to look for a buyer for its remaining 800 stores.
In the following days, with the prospect of a buyer uncertain, the retailer began the liquidation process across all of its more than 1,500 stores in North America.
However, with this new agreement now in place, Claire’s said as of Aug. 16, it has paused the liquidation process at about 950 locations.
According to court documents, Ames Watson will acquire at least 795 Claire’s stores and could keep as many as 950.
For the remaining 550 stores in North America, the liquidation process will continue.
Based in the Chicago suburb of Hoffman Estates, Illinois, Claire’s operates more than 2,750 stores in 17 countries across North America and Europe, as well as Icing fashion jewelry and accessories stores, as per its website.
Longtime fans of Claire’s took to TikTok and other social media channels to express their sadness at the impending closure of such a nostalgic brand.
A few Claire’s employees also shared their experiences working in the perhaps soon-to-close stores. One TikTok user, who appears to be a Claire’s employee, recently had some good news to share, stating that she was told to take the store closing signs down and get back to business as usual.
The buyer is an affiliate of Ames Watson, a Maryland-based private equity firm that has invested in WatchBox, Lids, Champion, and Fanatics.
The mall staple filed for Chapter 11 bankruptcy protection a second time earlier this month, filing in both the United States and Canada, and was looking for a buyer for some or all of its assets.
The sale of its North American business and IP was valued at $104 million in cash plus a $36 million seller note (both subject to adjustments), as per court documents.
“Importantly, the sale transaction will preserve thousands of jobs, provide continued business to many of the debtors’ vendors and landlords, and will allow the Claire’s brand to remain a prominent retailer for teens, tweens, and young girls around the world,” said the filing.
Claire’s has been struggling in the face of declining mall traffic, increased competition, and the challenge of appealing to a new generation of shoppers.
After filing, the retailer initially announced the planned closure of 18 stores in the U.S., but that number quickly grew.
On Aug. 6, Claire’s CEO Chris Cramer stated in court documents that the company could close as many as 700 locations, including all 190 Icing stores and 210 shop-in-shops in Walmart, and would continue to look for a buyer for its remaining 800 stores.
In the following days, with the prospect of a buyer uncertain, the retailer began the liquidation process across all of its more than 1,500 stores in North America.
However, with this new agreement now in place, Claire’s said as of Aug. 16, it has paused the liquidation process at about 950 locations.
According to court documents, Ames Watson will acquire at least 795 Claire’s stores and could keep as many as 950.
For the remaining 550 stores in North America, the liquidation process will continue.
Based in the Chicago suburb of Hoffman Estates, Illinois, Claire’s operates more than 2,750 stores in 17 countries across North America and Europe, as well as Icing fashion jewelry and accessories stores, as per its website.
Longtime fans of Claire’s took to TikTok and other social media channels to express their sadness at the impending closure of such a nostalgic brand.
A few Claire’s employees also shared their experiences working in the perhaps soon-to-close stores. One TikTok user, who appears to be a Claire’s employee, recently had some good news to share, stating that she was told to take the store closing signs down and get back to business as usual.
@sariah2sexy what is going on 😖 #claires ♬ LOOK AT THIS - Astro Boyke
The Claire’s team had “worked tirelessly” to explore all the available options, Cramer said in a statement released Wednesday.
“We are glad to reach this definitive agreement to sell a portion of our North America operations to Ames Watson and maximize the value of our company for all our stakeholders. I would again like to extend my gratitude to every Claire’s employee who has continued to show up for our customers during this challenging time for our business,” he added.
Ames Watson co-founder Lawrence Berger said the company is ready to support the next chapter for Claire’s.
“We are glad to reach this definitive agreement to sell a portion of our North America operations to Ames Watson and maximize the value of our company for all our stakeholders. I would again like to extend my gratitude to every Claire’s employee who has continued to show up for our customers during this challenging time for our business,” he added.
Ames Watson co-founder Lawrence Berger said the company is ready to support the next chapter for Claire’s.
“Claire’s has built a powerful emotional connection with generations of consumers through its focus on self-expression, creativity, and accessible fashion,” he said.
“We are committed to investing in its future by preserving a significant retail footprint across North America, working closely with the Claire’s team to ensure a seamless transition, and creating a renewed path to growth based on our deep experience working with consumer brands.”
The sale of Claire’s North American business and IP is subject to approval by the courts in the U.S. and Canada.
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.
Editors' Picks
Sponsored by
More on Majors
The Latest
CrimeAug 18, 2026
2 California Men Arrested in Fatal Vehicle Smash RobberyOne is the driver who allegedly crashed a car into a Sacramento jewelry store in April, striking a 71-year-old employee who later died.
ColumnistsAug 18, 2026
Peter Smith: The IKEA Effect and Bridal Branding In a new column, Peter Smith posits that people actually enjoy putting together IKEA furniture, and the same is true for engagement rings.
CrimeAug 18, 2026
Thieves Snatch $1M in Jewelry From New Jersey Jeweler9lakha Jewelers in Iselin, New Jersey, was the target of a smash-and-grab robbery on Aug. 8.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Lab-GrownAug 18, 2026
Ring Concierge, Kendall Jenner Collab on Bridal Earrings GiveawayThe jeweler has partnered with Jenner’s 818 Tequila brand to gift lab-grown diamond studs to a bride-to-be and their bridal party.
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
CollectionsAug 17, 2026
Marquise Diamonds Dance in Spinelli Kilcollin’s ‘Wren’ CollectionMarquise-cut diamonds in drop charms are the center of the new collection, reflecting the movement of a dancer in modular styles.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsAug 17, 2026
There’s a New Jewelry Show Coming to FloridaThe inaugural Fort Lauderdale Jewelry, Antique, & Object Show will be held from Jan. 28 through Feb. 1, 2027.
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
