Claire’s, the iconic store chain known for colorful jewelry and ear-piercing services, has filed for Chapter 11 bankruptcy protection yet again—its second in just seven years. The filing, submitted in Delaware, lists both the company’s assets and liabilities in the range of $1 billion to $10 billion, underscoring a deep financial squeeze.
Despite its nostalgic appeal, Claire’s has been battered by a blend of challenges: fierce competition from fast-shipping online rivals like Shein, Temu, and Amazon; declining foot traffic in shopping malls; higher import costs driven by tariffs on Asian goods; and a looming $500 million loan due in December 2026.
CEO Chris Cramer described the move as "difficult but necessary" and reassured that North American stores—under both the Claire’s and Icing brands—will stay open. The company is actively exploring strategic alternatives, including potential sales or financing partnerships, to reshape its future.