Bankrupt Claire’s sells most of its North American business
Jewelry is exhibited at a Claire store in California, Novato on June 23, 2025.
Justin Sullivan | Getty Images
Claire announced on Wednesday that he sold most of the North American business to the private capital company Ames Watson, just weeks after the jewelery retailer declared bankruptcy.
Companies did not explain any financial detail of the agreement.
Claire’s said that the movement came when examining every option to “maximize the value of the business”. In addition, Claire said that it would pause the liquidation process in most of its stores as part of the agreement that Claire said to the company.
Claire’s, the liquidation process will continue in some North American stores, he said.
“While we’re continuing our restructuring processes, our team worked without tirelessly to explore every option to protect the value of Claire’s business and brand,” CEO Chris Cramer said. He said. expression. “We are pleased to reach this final agreement in order to sell some of our operations to Ames Watson and to maximize the value of our company for all our stakeholders.”
According to the website, Ames Watson is a private holding company with more than 2 billion dollars of revenue focusing on purchasing and transforming the company. In its portfolio, covers, champion team clothes and South Moon.
“Ames Watson’s founding partner Lawrence Berger said in a statement,” We maintain an important retail footprint in North America, to provide a smooth transition and to create a renewed growth path based on our deep experience working with consumer brands. ” He said.
At the beginning of this month, the retailer applied for bankruptcy, a debt of approximately $ 500 million and an increasingly competitive sales environment. The company is also expected to assume the burden of tariff effects on suppliers from countries such as China and Vietnam.
The last of Claire applied for bankruptcy in 2018 due to an amazing debt burden. At that time, the company has undergone a strategic restructuring and increased new capital, which allowed it to eliminate the debt of approximately $ 2 billion and ensure that stores work.
