Claire’s Begins Liquidation After Second Bankruptcy in Seven Years

Claire’s, the longtime mall favorite known for its tween jewelry and accessories, is closing stores and liquidating inventory after filing for bankruptcy for the second time in seven years.

Once a retail powerhouse, Claire’s grew annual sales from $846 million in 2000 to $1.48 billion by 2007. However, shifting shopping habits and mounting debt led to its first bankruptcy filing in 2018, when creditors Elliott Management Corporation and Monarch Alternative Capital took control and erased $1.9 billion in debt.

The brand saw a brief boost in 2021 but struggled to keep pace in an increasingly digital retail landscape. Recent turnaround strategies included expanding into Walgreens and Walmart, launching a loyalty program, and leaning into influencer-driven marketing.

Despite these efforts, Claire’s has again fallen into financial trouble, leaving its future uncertain.

Source: CNBC