Claire’s files for US bankruptcy for second time in seven years | Retail industry

Intermediate jewels and ear promotional retailer Claire’s, the deceleration of consumer expenditures and the transition to online shopping in the middle of the second time in the United States declared bankruptcy in the United States.

US accessories, which have more than 2,700 stores in 17 countries, including England and France, said that he owed a court in Delaware that he owed $ 1 billion and $ 10 billion.

Donald Trump’s uncertainty about the tariff policy, Claire’s ability to deal with a loan of approximately $ 500 million (£ 375 million) to be repaid in December 2026.

Claire’s General Manager Chris Cramer said: “This decision is difficult, but the necessary decision. It requires this action for CLA and stakeholders, along with increasing competition, consumer expenditure tendencies and current debt obligations and macroeconomic factors.

“We are actively discussed with potential strategic and financial partners and we are determined to complete our strategic alternatives.”

Authorized, the business in the US and Canada, where the business began, the company, the company “continues to discover all strategic alternatives” will continue to trade, he said.

In the UK, Claire’s, which has at least 280 sales points, has recently been appointed as consultants from Interpath to take into account the options for the future, which may include a sales or bankruptcy process that can lead to widespread store closing.

According to the latest accounts opened at the House, the UK sales returned to about 1% by 1 February 2024. The documents show that the company employs more than 1,600 people.

The French branch of the group’s 239 stores was called as buyers last month.

Hight Street and Shopping Center experts are struggling when consumers are relieved in spending and looking for online bargaining. Claire’s also faces increasing competition worldwide for its services such as ear piercing by Superdrug in England, for example in the UK.

Other shopping center experts also hit the USA. Fast Fashion Retailer Forever 21, applied for bankruptcy in March and said that it would reduce US operations by entering online competition from online experts such as Shein and reducing customer numbers in stores.

Macy’s, the store chain, closes more than 6O sales points in 2025 as part of a program that will close 150 stores in the next three years. Last year, large chains, including only 99 cents and Rite AID, used the Bankruptcy Protection of Chapter 11 to restructure their operations.

Claire’s’s parent company is controlled by former creditors Elliott Management and Monarch alternative capital after a bankruptcy process in 2018.

At that time, the company wanted to restructure the $ 1.9 billion debt, which was built in 2007 by the private capital company Apollo Global Management.