Claire’s, the tween jewellery and ear-piercing retailer, has filed for bankruptcy in the US for the second time in seven years. The company cited a slowdown in consumer spending and the shift to online shopping as key factors in its decision.
The US accessories retailer, which operates more than 2,700 stores across 17 countries including the UK and France, disclosed debts of between $1bn and $10bn in court documents filed in Delaware. Uncertainty over Donald Trump’s tariff policy has raised concerns about Claire’s ability to manage a loan of nearly $500m (£375m) due for repayment in December 2026.
Chris Cramer, Claire’s chief executive, said: “This decision is difficult, but a necessary one. Increased competition, consumer spending trends and the ongoing shift away from brick-and-mortar retail, in combination with our current debt obligations and macroeconomic factors, necessitate this course of action for Claire’s and its stakeholders.” He added that stores in the US and Canada would continue trading while the company explores strategic alternatives.
In the UK, Claire’s – which has at least 280 outlets – recently appointed advisers from Interpath to consider options including a sale or insolvency process, both expected to lead to widespread store closures. UK sales fell nearly 1% in the year to 1 February 2024 to £136m, with a pre-tax loss of £4m from a £5m loss the previous year. The company employs more than 1,600 people in the UK. Its French arm, operating 239 stores, called in receivers last month.
The high street and shopping mall sector is under pressure as consumers cut spending and seek bargains online. Claire’s also faces rising competition for ear piercing, now offered by retailers such as Superdrug in the UK. Other mall specialists have struggled: Forever 21 filed for bankruptcy in March, and Macy’s is closing over 60 stores in 2025. Claire’s parent company is controlled by former creditors Elliott Management and Monarch Alternative Capital after a 2018 restructuring.
