Claire’s, the teen jewellery retail chain, files for bankruptcy again

CLAIRE’S, THE ACCESSORY chain known to generations of Irish children, has filed for bankruptcy protection for the second time in seven years.

The US-based retailer, best known for ear piercings and fashion jewellery, is struggling with falling sales, mounting debt, and the continued shift towards online shopping.

Claire’s filed for Chapter 11 bankruptcy in Delaware this week, listing its estimated assets and liabilities each between $1 billion and $10 billion (€920 million to €9.2 billion).

In Ireland, the chain operates 15 stores across the country, though no immediate closures have been announced.

Globally, Claire’s runs over 2,750 locations across 17 countries, including outlets under its ‘Icing’ brand.

Chief executive Chris Cramer said the decision to file was “difficult but necessary”, citing pressures from changing consumer habits, increased competition, and tariffs on goods imported from Asia, where most of Claire’s products are manufactured.

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Founded in Chicago in 1961, Claire’s has long been a staple of teenage shopping trips, remembered by many for first ear piercings, novelty accessories, and tie-ins with brands like Disney.

The chain previously filed for bankruptcy in 2018, emerging months later under new ownership, but efforts to relaunch on the stock market failed in both 2013 and 2021.

Last year, Claire’s formally withdrew its IPO plans for the second time, signalling deeper financial troubles.

The company now has more than 25,000 creditors and is carrying significant loan obligations, including a $496 million payment due in 2026.

In the past year, it has reportedly deferred interest payments and stopped paying rent on underperforming stores.

Claire’s insists that its shops will remain open during the restructuring process as it explores all strategic alternatives, including a possible sale of the business.

It’s the latest blow for physical retail shops, following recent bankruptcies at other high street names such as Foot Locker and Forever 21.

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